Tamasha (a.k.a "A melody of Forex") is advanced algorithm oscillator trading indicator. The system is designed both for scalping and trend trading. Tamasha combines advanced oscillator crossing with Currency Strength Meter to create a safe entry spots for trades and this is one reason why the system is a low risk system. The system is equipped with stop loss and take profit levels for safe entry and exits.
- Signal at beginning of candle.
- Swing entry (Low Risk Trading): Signals are generated at swing high and swing lows.
- Exit signals (Low Risk Trading): The system also generates an exit signal for safe exit so trade does not go into loss.
- Stop loss and take profits (Low Risk Trading): The System is equipped with stop loss and two take profit levels.
- Low risk: The system has an early trend entry capability and is also equipped with stop loss and support and resistance levels. These combine to form a low risk system.
- 100% non-repaint: The confirmation signals do not repaint. The pre-signal which is given before the main however does repaint as expected because it just pre notifies of a possible signal.
- 100% non-backpaint.
- 100% accurate statistics: The indicator has a what you is what you get (WYSIWYG) statistics. All the stats are transparent and can be confirmed.
- Take profit & stop loss: The system has up to two take profit levels (TP1, TP2) and a stop loss based on support and resistance levels.
- Success rate & profits: The statistics shows the accuracy of system and the number of days of data collection. We know accuracy could be deceiving sometimes so the statistics also shows net profit in pips to show possible profits and loss with the system.
HOW TO USE
- Step 1: Use the statistics to find the best pair and timeframe to trade (volatile pairs on M15, M30 and H1 timeframes recommended). Ensure Accuracy for TP1 is at least 70% and TP1 net profit is positive.
- Step 2: Ensure the Currency Strength Arrow is in signal direction.
- Step 3: Enter trade on confirmation signal.
- Step 4: Close partial profits at Take Profit 1 and on Exit signal, take final profit at Take Profit 2 level. Close losing trades at Stop Loss Level.
- BARS: History
- Signal Period: Oscillator period
- BuyLevel: Oscillator buy level
- SellLevel: Oscillator sell level
- ADX Level: Oscillator ADX level
- Data Mode: Oscillator data mode
- Stoploss: Average True Range stop loss
- Takeprofit: Average True Range take profit
- Enable Pre-Signal: true/false
- Use Exit Signal ?: use exit signals (true/false)
- Minimum_Exit_Pips: Minimum profit pips for exit
- Currency_Strength_Alert: Send Alert only Currency Strength Signal agrees with chart signal
- Minimum Currency Strength offset: Greater value than this will trigger currency strength signal
- Ma_Filter: true/false
- Ma_Period: MA period
- Volume_Filter: true/false
- Display Statistics Panel: true/false
- Theme Color: Panel theme colors
- Show SL & TP Lines: true/false
- Sound_Alert: pop-up alert (true/false)
- Email_Alert: true/false
- Phone_Alert: true/false
Note: For accuracy, always filter the chart signals with the Currency Strength Signal. Good luck and happy trading!