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Iteksignal Early Trend Reversal and Continuation

For spotting early trend reversal and continuation trading patterns.

ITekSignal indicator helps you identify trend reversals. The indicator is based in price action and market timing algorithms to determine these turning points at significant support and resistance levels in the markets.

That way, you can be sure you have chance to enter at the beginning of the trend with perfect timing and take the ride early.

Once the ITekSignal indicator has spotted a reversal point, it clearly displays a Buy or Sell signal on your chart, showing you exactly where possible reversal may occur.


Trade Setup Definitions

  • Signal bar: It is the closed bar where the indicator is plotted (Blue or Red arrows) in the chart.
  • Entry bar: The first bar after the signal bar that reach the high of the Signal bar.
  • Breakout bar: The bar that closes above/below a near Resistance/Support level.


Setup Entry Rules

  1. Wait for the Signal bar closes. Enter the Long trade 1-2 tick above the high of the signal bar (Opposite for Short).
  2. If the high of the Signal bar is near to a short term resistance level, enter the Long trade 1-2 tick over the high of Breakout bar (Conservative entry).

Or enter the Long trade 1-2 tick over resistance (Aggressive entry)


Cancel Setup

If any bar after the Signal bar closes below the low of the signal bar, the signal is invalid and the setup is cancelled.


Trade Management

  1. Stop Loss (SL): The Stop is 1-2 tick below the low of the last swing. That is the nearest higher low in the up trend (long trade). The difference between the entry and the stop is your risk in points of the trade – 1x.
  2. Take Profit (TP): Trades profit are based on the length of the SL, making it dynamic and self adjusting in each trade.
    • 1st Target TP1 is 1x. The length of the trade risk in points.
    • 2nd Target TP2 is 1.5x or 2x.
    • Trailing Stop. Activate trailing stop after price hits TP1. Use any trailing technique or just wait for an opposite signal from Iteksignal for exit.


Indicator Parameters

The indicator has time parameters to indicate the period of the day you want to get signals.

  • Time of the day: Beginning hour of the day to issue signals. Default is 0.
  • Time of the day: Beginning minutes of the hour to issue signal. Default is 0.
  • Time of the day: End hour of the day to stop issue signals. Default is 23.
  • Time of the day: End minutes of the hour to stop issue signals. Default is 59.
  • AlertsOn: Activation of Popup Alerts & Sound Alerts. Default is true.


Advantages

  1. Trend reversal and continuation trading patterns.
  2. Detailed trading plan.
  3. Works on Forex, Crypto, Stocks, Commodities.
  4. Works well for daytrading and longer timeframes, like Daily, H4 and H1.
  5. Identifies high probability reversal patterns.
  6. Plug and play, just hit the ground running.
  7. Very easy even for complete beginners.
  8. Popup Alerts & Sound Alerts.
  9. Customer Support.

Additionally, with the ITeksignal you can get Itektrend indicator which is capable of detecting Continuation pattern (in addition to Iteksignal Reversal patterns) on all pairs and all timeframes.

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Version 1.1 2018.04.19
Signals are optimized for better results