Trading is like bathing in a pond with sharks. You have to be the faster shark. The tool holds you informed and allows very quick action.
I programmed this tool out of the necessity to be constantly informed about what is going on. Before I sometimes forgot to set a stopp loss, this is impossible with this tool. Further this tool allows you to make distributed entries, eg. with a first feeler with 0.1 contracts and when the direction is the right one you just put more contacts into the ga
This indicator displays Pivot-Lines, preday high and low, preday close and the minimum and maximum of the previous hour. You just have to put this single indicator to the chart to have all these important lines, no need to setup many single indicators.
Why certain lines are important
Preday high and low: These are watched by traders who trade in a daily chart. Very often, if price climbs over or falls under a preday low/high there is an acceleration in buying/selling. It is a breakout out of a
Opening Range Indicator
Toby Crabel introduced this way of trading in the ealy ninties in his book "Day Trading with Short Term Price Patterns and Opening Range Breakout". In simple terms this means to trade the brekouts from the limits of the first trading hour with the stop loss at the opposite side. I.e. if the first hourly candle meausres 40 points (Crabel calls this the "stretch") you set the stop loss at breakout level minus 40 points and the take profit at the breakout level plus
Imortance of Inside- and Outside Bars
Inside bars are completely engulfed by its previous bar. The pattern is also known as "harami" (pregnant). Outsidebars engulf the previous bar.
Inside bars might mark situations before an outbreak. They are a condensed form of a symmetrical triangle. Symmetrical triangles represent a battle between bulls and bears. There can be an outbreak to either side, mostly the outbreak is in direction of the main trend.
The combination of ins
Did not find free VWAP that works, the one that I found craseh. So I created a VWAP which calculates values only for the actual day. So computer resouces are not over stressed.
What is VWAP, how is it used?
VWAP stands for Volume Weighed Average Price, it calculates the running sum of tick volume and the runnung sum of price times tickvolume. The division of these sums result in a weighed price (Sum P*V/Sum V). The calculation starts normally at midnight. The val
What ist CandleTime for
This indicaor just displays the remaining time for a candle to build. It is best used if you trade with timframes from 3 minutes.
I use it in M3 to keep postions. If I have two following red candles i usually liquidate the position.
M1 to H1
Arrow displayed => Edit your arrow string
Arrow for waiting conditions => Arrow if chart is offline
Text Color => color of the text
Tell if there is a trend change => tells you, if the two
Swiss Holy Grail Indicator
Motivation and functioning
The HolyGrail indicator serves to optimize an entry.
At that very moment I caught myself, that I went short in an uptrend, so I got into a trade in an anti-cyclical way. Or I have entered into a much too mature trend. This indicator should prevent such errors: One should always be aware of whether it is pro- or anticyclic entry, and one must always know about the maturity of the trend. Don't enter an old trend. Linda Raschke advises to buy
RSI talking, use all your senses while trading!
When trading your eyes might be very stressed. Therefore I programmed the RSItalking. Trade what you see and what you hear!
This indicator says "rsioverbought" when rsi is over a threshold value (default 75%) and "rsioversold" if it is under a lower threshold (default 25%).
When you keep a long position be adviced to realize profit when the indicator tells you "rsioverbought" and vice versa.
You will find an explanation of t