ACB Breakout Arrows
The ACB Breakout Arrows indicator provides a crucial entry signal in the market by detecting a special breakout pattern. The indicator constantly scans the chart for a settling momentum in one direction and provide the accurate entry signal right before the major move. Get streaks of winning trades using the entry signal provided by this indicator.
- Statistics Panel which shows the indicator performance metrics in real time.
- No Repaint!
- Stop loss and Take Profit levels are provided by the indicator.
- Suitable for Day Traders, Swing Traders, and Scalpers.
- Optimized algorithm to increase the accuracy of signals.
- Special level to facilitate the Breakeven move or scalping target(Quick Profit Line).
Optimize the indicator performance
The ACB Breakout indicator comes with a Signal's Statistics Panel that shows the indicator's performance metrics in real time.
- Total Signals: The total number of signals(arrows) that are accounted for the performance.
- Avg. MFE: The average of Maximum Favorable Excursion that has occurred during the trade.
- Avg. MAE: The average of Maximum Adverse Excursion that has occurred during the trade.
- Edge Ratio: The Edge-ratio is the average volatility-adjusted MFE divided by the average volatility-adjusted MAE.
- Success Rate: The success rate of the signals(arrows).
How to improve the indicator performance
The signal's accuracy is dependent on these two parameters:
- Signal Sensitivity: Choose a value between 20 to 100.
- Bars for SL: Choose a value between 5 to 20.
You should adjust these two values in such a way so that you get the following result:
- Edge ratio of 1.5 or more.
- Success rate of 75% or more.
After the adjustment, if you are unable to improve these two metrics, It's recommended to skip the pair or time frame.
Use "ACB Trade Filter indicator" to filter out the low probability trades.
- Strong Buy: Up Arrow + Green Histogram + Bullish Trend.
- Strong Sell: Down Arrow + Red Histogram + Bearish Trend.
- Avoid a trade if the histogram is Gray and Trend is Sideways.
“The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
- History Bars: Number of bars to consider for Indicator's calculation.
- Signal Sensitivity: Choose the Arrow's Sensitivity (signal strength).
- Bars for SL: Numbers of bars to consider for Stop loss calculation.
- Statistics Panel: Show/hide the statistics panel.
- Show Target Lines: Show/hide the SL, TP and Quick profit levels on the chart.
- Show Max Profit: Show/Hide Max. Profit line: The Maximum Favorable Excursion in Pips for the latest signal.
- Alert Settings: Display box, Email, Push notifications and Sound alerts are available.
For EA developers
- Old display information has been removed.
- Some other information has been removed which is not beneficial anymore.
- Source code optimization for faster execution.
- Ability to change the location of display information(corner).
- Changeable style and width for the target lines.
- Entry, SL, QP, TP1 and TP2 added to the alerts.
- Minor change in labels and bugs fixed.
- Removed a bug related to the alerts.
- Minor change in informational text and labels.