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Masters Bars

Masters Bars is an indicator that plots a line over High and Low of the last Master Bar.

A Master Bar is defined as the decisive candle that exceeds the last decisive candle High-Low range.

This helps traders to see if the chances for trend continuation improve or the chances for a trend reversal increase when Masters Bars range is broken.

Masters Bars include an Alarm function that produces a sound, or even can send an email and/or push notification depending up what you have configured in your terminal (Tools/Options).

The alarm function also have a threshold level to avoid false alarms due slight or over-extended cross.

For owners of Control adora EA, Masters Bars includes the capability to set its levels as trade levels by using the ss or bs price arrows.


Indicator Parameters

  • Set bs and ss on crosses (for Control-adora) - Set as true if you own a Control adora Expert Advisor and want to set a trade level based up on MastrersBars.
  • Level Line Prefix - Sets the first part of the name of each MastersBars' level (useful when use more than one instance of the indicator to plot several timeframes MastersBars).
  • Time Frame - Set the timeframe to calculate the MastersBars' levels.
  • Search for what kind of trades - This allow you to choose among the following choices for the alarm and (if applicable) Control adora's (bs or ss) arrows:
    • Both - Alerts you in each cross of the MastersBars levels.
    • Buys - Alerts you in the bullish crosses of the MastersBars levels.
    • Sells - Alerts you in the bearish crosses of the MastersBars levels.
  • Minimum Threshold to Alert - Sets the minimum distance that the closing bar that crosses the MastersBars levels should exceed the MastersBars' range (High - Low).
  • Maximum Threshold to Alert - Sets the maximum distance that the closing bar that crosses the MastersBars levels should exceed the MastersBars' range (High - Low).
  • Color lines - Sets the color of the plotted lines.
  • Minimum minutes between alerts - Sets the minutes that should pass after an alert to set a new alert.
  • Alarm interval in seconds - Sets the seconds between each alarm sound.
  • Alarm Iterations - Set the number of alarm repetition for each alarm event.
  • Alert on Close Candle - Set as true if you want the alerts be active after a candle close crossing the MastersBars levels. Set as false if you want to activate the alert as soon as a Masters Bars level is crossed by actual Bid price.
fakthorx
107
fakthorx 2018.02.11 18:42   

Excelente indicador que te deja programar entradas en velas de H4 GMT principalmente cuando no estas frente a tu computadora. Recomendable usarlos en zonas de soportes y resistencias.