PipFinite Reversal PRO
Reversal trading often requires advanced skills to be able to make good trading decisions.
Reversal Pro simplifies the decision making process by detecting reversals using a range breakout strategy then confirm signals on support/resistance levels.
The combination of Price Action, Location and Statistics increases the probability of a reversal.
For user manual, please visit www.mql5.com/en/blogs/post/716077
Try the demo version and explore its features, it would be a useful tool added to your trading arsenal.
Advantages You Get
- Simplified and effective reversal detection.
- Gives entry signals, exit strategy, stop loss and take profit levels.
- Reliable statistics following the criteria above.
- Never repaints, never backpaints, never recalculates.
- Signals strictly on the "Close of the bar".
- Works in all symbols and all timeframes.
- Integrated pop-up, email, push notification and sound alerts.
- Fully compatible with Expert Advisor (EA) development.
How To Trade
The simplified 5 step strategy. No complicated rules.
Step 1: Trade Setup
- Statistics Success Rate is at least 60% (Statistics Success Rate ≥ 60%).
Step 2: Check Support/Resistance Levels
- For Buy Signal: Price is NOT near resistance (Blue Line).
- For Sell Signal: Price is NOT near support (Red Line).
Step 3: Set Stop Loss
- You can use the Stop loss calculated by the indicator.
Step 4: Set Take Profit
- Option 1: Take profit on TP1.
- Option 2: Partial take profit on TP1 and close remaining position on TP2.
- Option 3: Take profit on support/resistance levels.
- For Buy Signal: Take profit on resistance (Blue Line).
- For Sell Signal: Take profit on support (Red Line).
Step 5: Exit Strategy
- If SL or TP levels are not reached, exit trade on a new signal.
- TP1 Hit - when a signal reaches at least TP1.
- EXIT Win - when a trade is closed on an new signal and resulted to a positive profit.
- SL Hit - when a signal reaches Stop Loss.
- Exit Loss - when trade is closed on a new signal and resulted to a negative profit.
- Percentage of signals which qualified for win condition.
- Used as reference to find better pairs and timeframes.
- Signal Period - the number of bars used to calculate the signal.
- Signal Period - 4 to 5 for general trading.
- Signal Period - 3 for scalping.
- Zone Period - the number of bars used to calculate dynamic Support/Resistance Levels.
- Zone Period - 7 to 10 for general trading.
- Zone Period - 5 for scalping.
- Zone Deviation - the factor used to determine the distance of Support/Resistance Levels relative to price.
- Zone Deviation - 1.00 to 1.50 for general trading.
- Zone Deviation - 0.50 to 0.80 for scalping.
- Stop Loss Selection - the stop loss strategy applied.
- S/R Only - stop loss will be based on dynamic support and resistance levels.
- Range Only - stop loss will be based on range levels.
- Automatic - the indicator will select the higher value from "S/R" or "Range" as stop loss.
- Stop Loss Offset - the additional stop loss in points.
- Example: 20 points = 2 pips, 200 points = 20 pips.
- You can increase this value to add extra buffer for stop loss.
- As a general guideline, you can use higher values on higher timeframes.
- Take Profit Factor - the multiplier used to calculate take profit levels.
- Take Profit Factor - 2.00 to 3.00 for general trading.
- Take Profit Factor - 1.00 to 1.50 for scalping.
- Increasing this value will give more take profit but decreases success rate.
- Decreasing this value will gives less profit but increases success rate.
- Maximum History Bars - maximum number of bars used.
- Misc Parameters - controls the universal visibility of objects & buffers.
- Display Parameters - controls the visibility of objects drawn on chart.
- Graphics Parameters - controls the appearance and colors of drawn objects on chart.
- Dashboard Parameters - controls the visibility and colors of statistics found on chart.
- Alert Parameters - controls the alert options enabled.
Offers solutions to different trading styles.
Be a part of our community and benefit from the services we offer on www.mql5.com/en/users/mthessdc