Market / MetaTrader 4 / Indicators /

Riverside

Demo downloaded: 13

Published: 4 September 2021

Current version: 1.42

Riverside

Indicators
Ralph Debes
Ralph Debes
Germany

300
Version: 1.42
Updated: 26 November 2021
Activations: 5

Bring the "sheep" into the dry.

The blue channel represents the river. The "sheep" have to be brought into the dry over this river so that they can graze on the pasture. Whereby the "sheep" are the candles and the "grazing" are the profit.

Entry for long trades is the high of the first candle, which closes completely above the channel. Reversed accordingly for shorts.

Stop Loss as you please. It is best to be below the last low.

Take Profit can either be set according to CRV, according to fixed points or at prominent levels.

Unique position size calculation. The size can be specified either as a percentage of equity or as an amount. The indicator calculates the appropriate position size immediately when the signal comes. So you can act quickly. The manual calculation is no longer necessary.

The indicator can be used in any time unit. However, higher time units are recommended.

Version 1.41 includes the following changes:

Entry/SL/TP is deleted when the tape is touched
MoneyManagement on/off selectable
Display trading hours
Display time
Position time / MM selectable
Color of the time selectable
if the time is outside the trading hours, the color of the time display changes

Version 1.3 includes the following changes:

-Calculation of the lot size (percentage or amount)

Version 1.1 includes the following changes:

Entry, stoploss and take profit are now displayed in the chart
the colors can be changed
Trading hours can be set
Alarm and push function
Order distance including spread
Number of candles for stoploss

This strategy can also be traded with an Expert Advisor. Just ask if you are interested.

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Riverside

Ralph Debes