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MT Merit TLC

Please feel free to contact me if you need any further information.
Please let me know if you have any questions.
I hope the above is useful to you.

MT MERIT TLC (Trend Line Channel) : It is an indicator created to look for Reverse or Break Out signals by using the trend line channel as a plot point to the current price.

Suitable for people who trade by yourself, do not use with ea  (non auto trade)
manage risk management by yourself (Stop Loss,TP, Risk Reward, ...)
and fundamental analysis help to choose an advantageous trading symbol pair.
indicator for trade by yourself 


TRADE: Forex and Binary Option

TIME FRAME:  All Time Frame (recommend time frame  M15 M30 H1 H4 D1 for Forex ,   M1 M5 M15 for Binary Option )

SYMBOL PAIR: All Symbol



SETTINGS:

CALCULATE BARS: Value or bars used must be large enough to calculate trend line channel.

TREND LINE CHANNEL(TLC): Input the trendline distance multiplier.

  For reverse trading the higher the data you input, the less signals. But the accuracy will be higher.
  For break out trading it's time to change the trend. Fundamentals analysis of the economy will give you an advantage.
TLC Line out up for Stop Loss
TLC Line in up for Sell or Buy
TLC Line mid for Take Profit (Line mid not setting)
TLC Line in down for Buy or Sell
TLC Line out down for Stop Loss

SHOW PRICE: Select ON|OFF (Price: SELL, BUY, SL, TP)

SIGNAL : There are 2 signals to choose : Signal break out trend line and Signal reverse trend line. You can design your own signals to buy or sell or exit.  (The signals can be used as an exit point)
SELL(Break Line Up)
BUY(Break Line Dn)
Signal_Break_ON
SELL(Reverse Line Up)
BUY(Reverse Line Dn)
Signal_Reverse_ON

ALERT: Popup, Mobile, Sound (Arrow display at the current time and Alert after close candle)

DETAIL ARROW and LINE: Refine the details in the display. Change Arrow: Icon, Size and Color
Arrow Signals and Trend Line Channel: repaint redraw and re-calculate follow the trendline that has changed. (It's normal. hope you can understand)

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We working day: Monday through Friday, 10:00 a.m. to 3:00 p.m.


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Indicadores
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Versión 3.10 2023.08.03
Minor improvements.
Versión 3.0 2023.06.29
Create Function: Show Price
Versión 2.10 2023.06.22
Various improvements.
Versión 2.4 2022.03.09
Various improvements.
Versión 2.3 2022.03.08
Various improvements.
Versión 2.2 2022.03.07
Various improvements.