Fifth dimension MT4
The indicator looks for the "Fifth dimension" trade signals and marks them on the chart. A detailed description of the chart patterns that generate the trade signals can be found in Chapter 8 "The Balance Line Trades" in the book "New Trading Dimensions" by B. Williams. Signal levels with indication of the position entry or stop loss placement price are indicated directly on the chart. This feature creates additional convenience for the trader when placing pending orders. A solid horizontal line is displayed in case a signal level is broken. A dashed line on the chart indicates a level, the breakout of which may change the market trend.
- bShowLine=true - show the signal lines, false - hide the signal lines.
- bAlert=true - send Push notification about a breakout of the signal level, false - disable the signal block.
- BuyLevel=clrLimeGreen - color of the buy level line.
- SellLevel=clrRed - color of the sell level line.
- maPeriod=13 - parameter of the balance line, "Teeth" line of the Alligator indicator.
- maShift=8 - parameter of the balance line shift, "Teeth" line of the Alligator indicator.
The Balance Line Trades ("The fifth market dimension")
The balance line shows the direction of the current path of least resistance for the movement of prices in the market. Therefore, buying is recommended when the price is located above the balance line and selling is advised if the current price is below the balance line. An opposite signal may serve as the stop loss level for the open deals. In addition, it is beneficial to look for the position entry points when the price is in the immediate vicinity of the balance line, while the histogram of the Awesome Oscillator is located near the zero line. Due to this, it is recommended to use the Alligator and Super AO indicators in the template. An additional zoning filter should be used when trading. For this purpose, attach an additional АС (Accelerator Oscillator) indicator to the chart. It allows filtering the trade signals when combined with the AO indicator. Namely, it allows you to avoid buying in the "Red Zone" and buying in the "Green Zone". It can be used on all time frames. However, the author of the strategy recommends trading using the daily range.