Price Action Triggers
Price Action Triggers indicator uses the purest form of data available in the market (price action) to determine the entry triggers. The signals are formed by observing the shape, positioning and relative size of the candles. The triggers will appear once either a single or a multi candle setup is detected.
It is important to note that the triggers will not observe the broader direction of the market (market sentiment). Thus the indicator should not be used as a stand-alone trading system. The Price Action Triggers work great when you have determined the market sentiment and know which triggers to take.
NB! All the arrows appear at the start of the candle they locate on and will not repaint!
The indicator works on all timeframes and symbols, but it is recommended to use it on bigger timeframes (H4 and up) since price action analysis principles work better the bigger the timeframe.
- Alerts - if true, the indicator sends an alert notification to the MetaTrader 4 terminal when any of the arrows appear along with the symbol name the event happened on.
- Push notifications - if true, the indicator sends a push notification when any of the arrows appear along with the symbol name the event happened on.
- Emails - if true, the indicator sends an email when any of the arrows appear along with the symbol name the event happened on.
- Added inputs & features:
* 'Sentiment range candles' - allow triggers this amount of candles after a sentiment change (requires Price Action Strength);
* 'Avg price filter' - allow triggers only if new entry would improve average entry price (assuming the position will exit on an opposite signal);
- Improved indicator buffer calculations, got rid of double signals on chart refresh;
- Compatibility with RM Trading Solutions 'Price Action Strength' indicator