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Top Bottom Protruder

Gives an early warning visual for new trading opportunities when the line extends outward at the upper or lower extremes of the indicator window, and clear signs of a peak or trough is forming when the line becomes angled.

Make sure the chart is zoomed out completely to see this happen.

The algorithm used in this indicator combines input from Support/Resistance levels and different Moving Average combinations.

This indicator can be used on all time frames and pairs.

Features alert function.

No need to set up the indicator.

How to use:

Simply attach to any chart.

Please PM me for instructions.

Best results when the chart is zoomed out completely.

NB: Look for new trades after the Protruder has formed above/below XLevels (comment #7).

Make sure that the current time frame, as well as the higher time frames reaches these levels before attempting a trade, or use as you see fit for your strategy.

When the blue line protrudes below the red line at the lower extreme of the indicator window, and becomes angled upward, it signals buying opportunities. (comment #7).

When the red line protrudes above the blue line at the upper extreme of the indicator window, and becomes angled downward, it signals selling opportunities. (comment #7).

Best results on Major Pairs, but can also be used on other pairs.

Important to note:

  • Please do not use this indicator haphazardly. Make sure it compliments your strategy.

  • Don't risk money you cannot afford to lose.

  • You use this indicator at your own risk. Please apply money management wisely.

  • Always test your strategy on a demo account before using a new indicator on a live account.

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Versão 1.8 2020.10.06
Peak and trough visual added.
Color update.
Indicator input signal update.
Versão 1.7 2020.07.10
Email alert added.
Input signal updated and trend filter enhanced.
Versão 1.6 2020.07.07
Added alerts.
Enhanced signal input.
Versão 1.5 2020.07.06
Performance enhancement and algorithm change.
Versão 1.4 2020.07.05
Major update to signal input operation.
Versão 1.3 2020.07.05
Enhanced signal input for better entry.
Versão 1.2 2020.07.04
Signal Operation Enhanced.
Versão 1.1 2020.06.30
Signal input update.