- What's new
Katana is a "follow the trend" indicator that sends you buy & alert signals. There is several possibilities on how you can use it.
1st Possibility: When market goes above middle line, it's a buy signal. When market goes below middle line, it's a sell signal. You can use it everyday for your manual trading.
2nd Possibility: Wait for a new trend to appear. If market is up, wait for the market to touch the middle line and reverse on the other side.
3rd Possibility: Trade with the current bar color. If it's blue, go long. If it's red, go short. This is good if you're looking to hold trades for seconds/minutes.
Indicator works on all timeframes. Our recommended timeframe is: M5, M15 & H1. It works on all forex pairs, indices, metals & crypto.
You can use our extra parameter of Fibonacci to place your Take Profit & Stop Loss levels.
How to enable alerts on your MetaTrader 5 app?
Go to Tools --> Options --> Notifications --> Check Enable Push Notifications --> Check Notify Of Trade Transactions --> Enter Your MetaQuotes ID --> Click on OK.
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- Show MidLine: Show the median price line.
- Signal Based On MidLine: If set to true, there will be a signal as soon as there is a reversal (new possible trend).
- Show Fibonacci Levels: Turn it on if you need to entry your TP & SL levels based on Fibonacci.