PZ Day Trading MT5
The PZ Day Trading indicator
reversals in a zig-zag fashion, without repainting or backpainting.
Based on breakouts of variable lengths, the indicator uses only price
action to pick
trades and reacts to the market very fast. The positional accuracy of its signals offers huge opportunity for profits, easily up to 80% winners.
- Amazingly easy to trade
- Chart statistics will help you to optimize your trading
- It works on every single timeframe without fine tuning
- The indicator analyzes its own quality and performance
- Losing signals are highlighted and accounted
- It implements email/sound/push/visual alerts
- The indicator is non-repainting
This tool is for traders
looking for an efficient and simple entry strategy. Novice traders
should not trade below H4 charts with it. Learn why.
How to interpret the stats
The indicator studies the quality of its own
signals and plots the relative information on the chart. Every trade is
analyzed and the overall historic results displayed at the top-left
corner of the chart, which allows you to optimize the indicator
parameters by yourself, for
any given instrument and timeframe. Each instrument and timeframe will
have its own optimal settings, which you can find by yourself.
Maximum Favorable Excursion (MFE)
The MFE is the best possible outcome for any given trade.
- Maximum Adverse Excursion (MAE)
The MAE is the worst possible outcome for any given trade.
- Average Absolute Expectancy (AAE)
The AAE is the absolute excursion you can expect for any given trade, obtained by subtracting the MAE from the MFE, which reflects the true quality of the entry strategy. In other words, the entry strategy is measured by the relationship between the average best possible outcome and the average worst possible outcome for all the trades displayed.
- Losing Trades
Losing trades are not hidden, but highlighted with a red cross and accounted. Looking at them regularly might help you to avoid losing patterns in the future.
Confirmation of trades
Kindly consider using Support and Resistance levels to confirm trades.
What this indicator is not
- It isn't a complete trading system
- It isn't an automated trading system
- It isn't an always-in-market indicator
- It doesn't display exit points
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.