The Trend Catcher indicator consists of three parts: arrows, two moving averages and Stop Loss levels. Arrows are the main part of the indicator. A trade is entered based on the arrows. The two moving averages are used for trend detection. Stop Loss levels are an auxiliary tool for managing open positions. Trend Catcher does not repaint.
- Enter Buy if Trend Catcher shows a Buy signal;
- Enter Sell if Trend Catcher shows a Sell signal;
- Enter only using pending orders on the high/low of a bar + a small shift;
- Better trade with the trend or in the flat (do not enter opposite to trend);
- Stop Loss levels can be used instead of trailing stop;
- Better use the default settings of the indicator.
- DrawArrow — if set to true, arrows are drawn on the chart, if false - they are not displayed;
- PeriodArrow — period of arrows (generally 26 or 34);
- VariantsOfArrows — options for drawing arrows (values from 1 to 3);
- DrawMA — if true, moving averages are drawn. If false - MAs are not displayed;
- PeriodFastMA — fast MA period;
- PeriodSlowMA — slow MA period;
- DrawStopLossLevels — if true, Stop Loss levels are drawn. If false, Stop Loss levels are not displayed on chart;
- PeriodATR — period of ATR, based on which Stop Loss levels are drawn;
- MultiplierATR — ATR multiplier.