The indicator TJF Dynamic Signal is made for professionals and based on the added value signal line. The main goals of this indicator are to notify you of SETUP trades and give you an alert while you are on a mobile or send you an email. It draws two lines – TJFCandle and DynSignal.
We also added the possibility to modify overbought (OB) and oversold (OS) levels. These levels might be different to each of you and we put 60% and 40% as default values. This indicator does not repaint or recalculate. While in the current candle bar, we use Close Price, so we need a confirmation until the current candle bar is closed.
How To Make Setup Trades?
The automated alert is generated by using DeadCross (DC) and GoldenCross (GC) signals between TJFCandle and DynSignal.
It sends you a notification in the event of DC or GC and you can put the STOP LOSS level at previous high or low levels of the last candle bar. As noted, you can modify this candle bar as you wish to suit your money management.
After you are notified, you can use Divergences as an additional analysis.
How Worth Is It?
When using the default parameters (see the description below) on H4 timeframe, we may get more than 150 pips and have limited risks of 50 pips (see the screenshots).
You have flexibility to arrange the parameters to achieve maximum results. And of course, this strategy should apply the minimum risk in each signal.
As we do not apply the TARGET PROFIT level, you must decide yourself.
Note: Results for 4 and 5-digit brokers can show differences.
The default parameters:
- CandlePeriod =14; amount of candles used in calculation
- Dynamic =8;
- SuppRestCandle =1; level for setting a STOP LOSS
- EmailNotify =True;
- AlertOn =True;
- MQidAlertOn =True;
- UseSetOBOSLevel =True; if true, all signals between these OBOS levels are not counted.
- SetOBLevel =60.00;
- SetOSLevel =40.00;
- PersonalSignature ="MyProSignals"; you may change signatures of email and push notifications.