Retracement Feeder

5


The Retracement Feeder checks for retracement opportunities after the first move has occurred. 

Basically it scans for the second wave of trend.

  • Works with any financial instrument, 
  • It does not repaint/change color or cancel arrows,
  • Easy to set and use.
  • Works great with Renko Charts
____________________________________________________

MT5 version | Best used with  Market Heart MT4 Version|

How it works

  • The indicator is based on RSI and Stochastics. 
  • The algorithm used in the Retracement Feeder allows the Stochastic and RSI to minimize the turns and twists thereby reducing false oversold and overbought signals.
  • It scans for a buy retracement when the asset is oversold and for sells when overbought.
  • Place a buy entry if a candle opens above the upper trendline irrespective of the arrow that forms. If a sell arrow forms but the following candles open above the trendline open buy since the reverse signal has been initiated. Same rule applies to sells.

Settings

The indicator is straightforward to set up

  • Stochastic %K Period  [This is the Stochastic period. The tests have been conducted with a value of 100]
  • Stochastic %D Period   [This is the %D period. The tests have been conducted with a value of 1 ]
  • Stochastic Slowing   [This is the Stochastic slowing. The tests have been conducted with a value of 1 ]
  • RSI Period[The value can be adjusted if needed]
  • RSI Price  [You can tinker this, but close has been used to test efficiency]
  • Enable Alerts  [email, screen, and metatrader notifications alerts]
  • History Bars to Display  [This is the number of arrows you want to display on your mt4]

The default values work fine. Send me a PM for specialized settings for any of your instruments







Reviews 1
zakey_ahmad
73
zakey_ahmad 2021.06.26 19:29 
 

good indicator

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Gold PL MTF - this is a fine stock technical indicator. The indicator algorithm analyzes the movement of the asset price and automatically reflects the important Pivot Levels of the specified timeframe (TF) using the Fibonacci method (golden section). Live Signal of manual trading >>>   [ Click Here ] The indicator perfectly describes the price trajectory of the selected timeframe (day, week, month, year), determines the beginning of a trend and the beginning of a correction, which may develop i
Gold Venamax MT4
Sergei Linskii
3 (2)
Indicators
Gold Venamax - this is a best stock technical indicator. The indicator algorithm analyzes the price movement of an asset and reflects volatility and potential entry zones. Live Signal of manual trading >>>   [ Click Here ] Indicator features: This is a super indicator with Magic and two Blocks of trend arrows for comfortable and profitable trading. Red Button for switching blocks is displayed on the chart. Magic is set in the indicator settings, so that you can install the indicator on two chart
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zakey_ahmad
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zakey_ahmad 2021.06.26 19:29 
 

good indicator

Innovicient Limited
10450
Reply from developer ALFRED MURIITHI 2021.06.26 20:14
Thank for your review. We are humbled to have contributed to your trading 🙏💖
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