Trend and correction Pro
This indicator is an improved version of Trend and correction. It finds strong trend movements of a currency pair over the specified number of bars. It also finds correction to this trend. When the trend is strong enough, and the correction becomes equal to the values specified in the parameters, the indicator generates a signal. You can set different correction values, while the best suiting are 38, 50 and 62 (Fibonacci levels). In addition, you can configure the minimum length of trend, the number of history bars for search and other parameters.
The Pro version features the options to send notification to mobile devices and email, and simultaneous display of up to three correction lines to a trend.
- History - the number of bars for determining trend and correction;
- MinPriceDistance - minimum trend distance in currency pair units;
- BarsShift - the minimum required number of bars to find the maximum or minimum when determining the beginning of the trend.
- CorrectionPercent - percentage of the first correction.
- Correction2Percent - percentage of the second correction (if set to 0, it will not be displayed).
- Correction3Percent - percentage of the third correction (if set to 0, it will not be displayed).
- OnlyTouchingLine - enable or disable the option which influences signal generation: either touch or roll back from the correction line;
- EnableAlert - enable or disable an alert window;
- EnableNotifications - enable/disable sending notifications to mobile devices and email (the correct settings must be specified in the MetaTrader 4 terminal).
- MaxNotificationsInHour - the maximum number of notifications sent per hour of trading by server time.
- UpColor - color of the correction levels in an ascending trend.
- DownColor - color of the correction levels in a descending trend.