SFO Trend Racer
SFO Trend Racer system is a trend indicator created by the CEO and Founder of "Simple Forex Options", Tevin Marshall. It serves 6 different functions all in one. It shows the trader the entry signals as well as exit signals, whether it is a take profit or a stop loss. It also uses trend filters and signal confirmations so that the trader is able to make the most logically fit decision. Trend Racer uses various filters and specific settings from a plethora of indicators. The beauty in this indicator is that it is self correcting. If the markets behave differently than the signal reading, there are safety precautions set into place to keep the trader from losing as much money as possible and in return getting in on the best suitable direction. This indicator aims to get the trader in on a trend as early as possible and also allow them to ride it out to its maximum capacity. I have built in rules and recommended filters below so that the trader trades with ease and full comprehension of what the markets are aiming to do.
- Blue Arrow: Buy Trend Signal
- Red Arrow: Sell Trend Signal
- Aqua Arrow: Buy Pullback Trend Continuation
- Orange Arrow: Sell Pullback Trend Continuation
- Aqua Line: Buy Confirmation
- Orange Line: Sell Confirmation
- Blue Check: Consider profit on buy position
- Red Check: Consider profit on sell position
- Blue X: Consider exit on buy position
- Red X: Consider exit on sell position
- Blue Line: Upcoming Buy Take Profit
- Red Line: Upcoming Sell Take Profit
Rules: You can either exit position when the corresponding color of a "X" or a "Check" pops up. Or you can exit your position when the opposite colored confirmation line or arrow appears. "X" is primarily for stop losses and "Checks" is primarily for Take profits.
- Always take trades in the direction of the Orange and Blue Larger Confirmation Line. (Must be pointing up on up buy trades and must be pointing down on sell trades)
- Aqua Line + Blue Arrow
- Orange line + Red Arrow
- Blue Take Profit "check mark" after Blue Upcoming Take Profit Line
- Red Take Profit "check mark" after Red Upcoming Take Profit Line
- Larger Orange and Blue confirmation line can be used as support and resistance
- If Trend direction matches higher time-frame. i.e if H4 gives a Blue Arrow and D1 has Aqua Confirmation line
- ONLY trade trending pairs. Look at chart and use Orange or Aqua confirmation lines to determine if a pair is trendy or volatile. A trendy pair will look very smooth and lazy. A volatile pair will look very scratchy and noisy.
- Grey confirmation line is a sign that the trend is ranging, slowing down or changing.
- VERY STRONG CONFIRMATION: Only take Buy trend after strong & smooth Sell trend, and only take Sell trend after strong & smooth Buy trend.
- Send_Email: True or False
- Audible_Alerts: True or False
- Push_Notifications: True or False
- Alerts for All Arrows: True or False
*I recommend using this indicator on the H1, H4 and D1 timeframes. Best pairs to trade with this are smooth trending pairs.
Disclaimer: This should be used wisely and to aid your own personal trading system. This system does not promise any profits or win percentages. Use wisely at your own risk. Take profits and stop losses are recommendations up to your own discretion. Enjoy
-Added Customizable Alerts for all Arrows.
-Can turn on/off alerts for each Arrow or Signal Set.
-Can now customize trade time.
-Removed Moving support and resistances.
-Added Take profit warning lines.
-Changed the logic behind take profits and stop loss.
-Changed the logic behind trend signals.
-Changed the way confirmation lines appear and react on charts.
-Tighter stops loss considerations
-Parameters altered for entry signals
-Different parameters for trend confirmation lines