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YD Correction

The indicator searches retracements. Retracement is a temporal movement of a price in the opposite (or sideway) direction from the current trend.

To my mind, the only dependence on the market is represented by waves. Retracement is a part of this movement. It helps to determine a start of a new wave.

The yellow line of the indicator is a signal one. Pending stop orders are placed on its level. We also added take profit and stop loss levels for your convenience. These levels are adjusted for EURUSD. Breakeven level = 30 points (300 points for 5 digit quotes).

If the price moves 100 pips or more from the entry point, the signal is false.


Parameters:

  • Period_1 - calculation period 1
  • Period_2 - calculation period 2
  • showFridaySignals - show Friday signals
  • slLevel - stop loss level
  • tpLevel - take profit level
  • barLimit - number of bars used for calculation
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Kangaroo Tail Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Commodities, Metals, Cryptos. The Kangaroo Tail is a simple and very effective pattern to trade. The strategy that comes with the Kangaroo Tail is purely based on price action. Inputs of the indicator are : Distance: distance in pixel relative to top or bottom of candle to display the arrow symbol MaxBars: number of bars back used to calculate the indicator TradeDirection (Long/Short/LongAndShort): filter sign
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Artban 2015.07.20 15:11 
 

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Versión 2.0 2015.07.02
Fixed bug of displaying in real time.