AlioFx Smart & Simple it's an indicator designed to help novices and professional traders.
The indicator analyses the market and gives you buy and sell signals. It does not use any other indicators, it works only with the market actions. The signal appears right after the candle close and it does not repaint.
For best results you should know how to do simple technical analysis and filter the signals based on your trend lines, support and resistance lines and supply and demand zones(rectangles).
This indicator it's not designed for scalping. It's best to be used on higher timeframes!
- Use Technical Analysis - if true, the signals will be filtered on your analysis, lines and rectangles.
Note: By default, in the indicator's Input Parameters, "Use Technical Analysis" is true. If so, you won't get any signals unless you draw support and resistance lines, trendlines or rectangles.
You can set the parameter to false and get all the signals(arrows) unfiltered.
- Use TrendLine Slope - if true, the buy signals will appear on a rising trendline and the sell signals on a falling trendline (this is if you only want the ones on trend).
- Use SR Lines Range - if true, the support and resistance lines will find signals within a range not the exact price (so you don't miss signals that comes close but don't touch).
- Use TrendLines Range - if true, the trendlines will find signals within a range not the exact price.
- Use Line intersection - The signal checks both trendline and support and resistance line.
- Use SD Rectangle Range - if true, the rectangles will find signals within a range not the exact price.
- Alert notifications - the MT4 platform give you an alert when a signal appear.
- Mobile notification - you get notification on your mobile phone for the signals.
You also have some customization options:
- History Candles - number of candles for signal history. Use a lower number if you have too many charts opened with this indi on and you experience a slowdown.
- Buy Arrows Color - The color of buy signal arrows.
- Sell Arrows Color - The color of sell signal arrows.
- Shift arrows - Increase the distance of the arrows if they are too close to the candles.
- Arrow style - Select from 5 types of arrows.
- Arrow width - Select the size of the arrows.
- Display Logo - Display or hide the AlioFx logo.
Tip: If you want to increase your chances even more, after you get the signal, do not enter into a trade right away, wait to see what is the direction of the next candle.
If it goes at first in the opposite direction of the signal do not trade until it turns back and brakes the candle opening. If the price goes directly in the signal direction and the signal candle did not have any retracement(like a tail), you should wait, the retracement might come on the next candle. But you might miss some good signals.