• Overview
  • Reviews
  • Comments (3)
  • What's new

PipFinite Zone Reversal MT5

Advance algorithm that confirms reversals using breakouts on dynamic support/resistance levels

Indicator also includes statistics, targets and exit levels

Mainly functions as an Entry indicator. Works in any pair and timeframe.

Combination with Volume Critical & Strength Meter. Please Watch Video (Click Here)


Features

  • Detects confirmed reversals on dynamic support and resistance zones
  • Flexible tool, can be used in many ways to improve a trading system
  • StopLoss Levels
    • Option 1: Dynamic Support & Resistance Levels
      • Support(red line) for buy signal
      • Resistance(blue line) for sell signal
    • Option 2: Range Levels
      • Below blue box for buy signal
      • Above red box for sell signal
  • TakeProfit Levels (Based on statistics of past signals)
    • Option 1: Scalp Target (TP1)
      • Higher probability target
      • You can close all trades for quick profit
      • You can partially close your trades and move stoploss to breakeven
    • Option 2: Swing Target (TP2)
      • Standard target based on averages of max profits
      • You can close remaining positions
  • Exit Levels: Video (Click Here)
    • Close buy trades when price touches dynamic resistance (blue line)
    • Close sell trades when price touches dynamic support (red line)
  • Avoid Bad Setups: Video (Click Here)
    • Avoid buy signals if entry point is already near dynamic resistance
    • Avoid sell signals is entry point is already near dynamic support
  • Supporting Tool
    • Ideally combined with price action trading
    • Increase probabilities by combining to Strength Meter
    • Increase probabilities by combining to Volume Critical
    • We can use Exit Scope as alternate exit strategy
  • Never repaints
  • Never backpaints
  • Never recalculates
  • Signals strictly on the "Close of the bar"
  • Compatible with Expert Advisor development


Combo

Zone Reversal with Volume Critical & Strength Meter

  • Settings
    • Zone Reversal: Zone Deviation = 0.50
    • Volume Critical: Period = 5
    • Strength Meter: Period = 7
  • Buy Setup
    • Preparation: wait Volume Critical to be oversold/extreme oversold
    • Signal: Zone Reversal Buy Signal
    • Confirmation: Strength Meter Bullish Level 1 or 2 only
    • StopLoss: Dynamic support line or below blue range box
    • TakeProfit: Scalp Target or Swing Target
    • Exit: Touch of dynamic resistance line
  • Sell Setup
    • Preparation: wait Volume Critical to be overbought/extreme overbought
    • Signal: Zone Reversal Sell Signal
    • Confirmation: Strength Meter Bearish Level 1 or 2 only
    • StopLoss: Dynamic resistance line or above red range box
    • TakeProfit: Scalp Target or Swing Target
    • Exit: Touch of dynamic support line
  • Watch Video: (Click Here)


Video References

Please Watch in High-Definition to further understand


Indicator Parameters

  • Signal Period - Number of bars used to detect signal
  • Zone Period - Number of bars used to calculate dynamic Support/Resistance Levels
  • Zone Deviation - Factor used to determine the distance of Support/Resistance Levels relative to price
  • Positive% Min Pips - Minimum number of pips required for trade to be counted as positive on statistics
    • Example: Positive% Min Pips = 5.0
    • If a signal profit is below 5.0 Pips, it won't be counted as a positive trade
  • Maximum History Bars - Maximum number of bars used
  • Other parameters such as colors and alerts are self-explanatory


Statistics

Calculation is determined by how many "Maximum History Bars" are available.

Since the indicator gives filtered signals, we can set Maximum History Bars from 2000 - 5000 to gather enough data.

  • Signals - The total number of past signals. For optimal data, load bars to produce at least 20 past signals
  • Positive Trades - The total number of past signals that went into profit at some point. Calculation does not include exit strategy
  • Positive% - Percentage(%) of Positive Trades. It is ideal to look for instruments with 90% and above value
  • Scalp Target - TP1, Higher probability target based on minimum averages of past signals
  • Swing Target - TP2, Standard target based on averages of past signals


Improve Your Trading

For other tools to help your trading needs (Click Here)

No reviews
Version 2.0 - 2017.10.27
Added "Positive% Min Pips"
You can now define the minimum pips for a signal to be positive

Example:
Using 5.0 on H1 charts
The indicator will only count positive signals if it went at least 5 pips profit

Using 0 will turn off this feature

NOTE:
This affects the calculation of Positive%, Scalp Target & Swing Target

For EA users and developers
New sample code is also available