This indicator displays entry points to the market using Bollinger tapes and exit points, which are determined by the specified distance in points from the entry point. If indicator line is above the price - it is "sell" zone for traders, and if indicator line is lower than the price - it is bullish trend. The information panel shows the results of the indicator so that you can configure it more precisely and see how the parameters affect the result. Alert about the points of entry and exit comes to the phone. By default, the indicator is optimized for working with m15, h30, h1 timeframes.
Important: within several days we plan to add set files for this indicator, and you will be able to use ready-to-use setting optimised for major pairs!
- Skipping many false breakdowns. The ability to choose the settings that will simultaneously fit the trend market and flat.
- Signals do not redraw.
- Visual display of bullish and bearish trend on Bollinger Bands.
- It clearly shows the profit in points, the number of successful and unsuccessful transactions, the percentage, and the number of losses in succession.
- period - averaging period for calculating the indicator. The default value is 20;
- deviation - The number of standard deviations from the main line. The default value is 2;
- smooth - the period of the smoothing line. The default value is 2;
- space - averaging period to avoid false breakdowns. The default value is 5;
- flat - coefficient to increase the curvature of the trend line. The default value is 1;
- q - the gain of the space mode. The default value is 0.1;
- cutoff - the value to take profit in points (takeprofit). The default value is 5;
- bars - the number of bars to calculate. The minimum value is 1000;
- notification - sending messages to the phone (Metaquotes ID). The default value is 1; 1 - yes, 0 - no;
- panel - permission to display the information panel. The default value is 1; 1 - yes, 0 - no;
- allbars - use all bars for calculation. The default value is 1; 1 - yes, 0 - no;
The information panel shows the following information:
- win percent - the ratio of profitable and unprofitable transactions in percent.
- total loss - the total number of losing trades.
- total trades - the total number of transactions.
- total win - the amount of profit in points for the number of candles.
- takeprofit - the distance from the entry point to the high or low candle at which the profit is measured.
- mcl - the maximum number of damages in a row.
- bars - the number of bars to calculate.
The space and q parameter must be fine tuned to skip as many false breakdowns as possible. It is necessary to coordinate the parameters so as to obtain the maximum profit in total win and the minimum value in mcl. The space parameter should be selected empirically to search for the best entrances and identify long-term trends. The mcl indicator is important for using the indicator for martingale trading, where the minimum sequence of losses plays a big role.
The indicator works only with closed bars.