Expert Market Edge
- Indicators
- Version: 1.2
- Updated: 24 April 2020
- Activations: 5
Expert Market Edge is scalping, trending, reversal indicator, with alerts. You can use it all and fit with your strategy whatever it fits you. My recommendation is to combine with my Colored RSI, and when 2 signals are matched, and pointing same direction (for example buy on this indicator, and green on RSI, you can take a long position, stop loss should be last local low, if you want to be more conservative, add ATR. ) you can take position. If you using moving averages, that's even better if signal aligns with 21,89,200 EMA, its triple confirmation of possible scenario and that trade looks really good. Again, take in consideration this is only indicator, it's not 100%, but when you get your confirmation signal, and you have your risk management in place, you should be profitable in long run, not trade thinking just next trade, but serious of trades (as we pro traders do, and with 65-70% win ratio, you are good if you have proper risk management.)
Best Strategy for using it - or look at full automated EA trading it in video trading it:
You put 21 EMA on your chart, take our Colored RSI, and this indicator.
When the price is below 21 EMA and price is going up to it, 21 will act as resistance do not take a position, even if you got a signal (arrow) to buy. You wait for the candle to close above 21 on that Time Frame, then you take a position, stop loss is on low of the signal or last local low. Make 3-5 Profit Targets, and first profit target(PT) is the same distance as is your entry to your stop loss at least (if you know how to see levels, it's on first resistance). Every other PT, is the same distance, or on the next resistance if you know how to read levels. Same stuff just other way around for sell (short) signal.
Important:
When Price Action is flat (21 is flat), and you are in position, do not take other way position, till you get stop out, and when you get stop out and you see price action is still flat, wait for another candle closure to see, some verification in the market. This is not to often but it happens.
Update 24 April 2020
We added Sounds alerts, and email notification for the signal of the indicator, see the picture in the picture section.
If you have any questions feel free to ask.
Excellent product, is now my main signal indicator. Easy to read signals with both colored bars and arrows. Alerts and notifications are also great features. Works even better with provided 21 ema strategy, will try author's colored rsi indicator. Fast response from author.