Market / MetaTrader 4 / Indicators /

Merlin

32 USD

Demo downloaded: 112

Published: 14 October 2018

Current version: 1.1

Merlin

Indicators
Stefan Stoyanov
Stefan Stoyanov
Bulgaria

7977
3 (28)
Trade forex from 12 y.

7 products 10 topics 325 comments
Version: 1.1
Updated: 16 October 2018
Activations: 5

The algorithm of the indicator is based on the fact that the price is attracted to the slow moving average

The same applies to a fast moving average that moves around a slow moving average

These moving averages have a special smoothing algorithm.

When the fast Moving average goes up and is below the slow Moving average, we have a potential signal to open a position-Buy entry

When the fast Moving average goes down and is above the slow Moving average, we have a potential signal to open a position-Sell entry

White and blue dots indicate the places of potential exits from the market

If the point is white-this is a recommendation for Buy exit.

If the point is blue-this is a recommendation for Sell exit.

Red diamonds marked potential Stop Loss

Works on all instruments and charts.

You can work with many tools at the same time.

The indicator does not overwrite its signals

Settings

Bar-size of the array of bars to calculate the indicator

P-period of fast Moving average

M-period of slow Moving average

mode-mode options

If mode = true, potential Stop Loss dots are visible on the chart

If mode = false, potential Stop Loss are not displayed on the chart.

How to set up the indicator?

Run the indicator on the chart

Select from the terminal window: Charts =>Indicators List => Merlin =>Edit

Will appear in the indicator window

Configure settings

After all, create a template: Charts =>Template =>Save Template

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Merlin

Stefan Stoyanov