TakePropips Moving Average Crossover
TakePropips Moving Average Crossover is a powerful and effective tool that automatically detects trading opportunities using two Moving Average Crossover Strategies and also provide you an entry and exit signals.
This multi-function indicator includes a Statistical Dashboard Panel and a Trend-Detection Scanner. It is designed to provide you trading signals and save you hours analyzing the charts!
- Automated Entry and Exit Signals - detects buy & sell opportunities and provides you with up to 3 take profits and a stop loss.
- Trend Scanner - a multi-symbol and multi-timeframe scanner shows the direction of the trend, success rate, and an overall rating. The scanner works with all symbols & timeframes.
- Statistical Dashboard Panel - shows the entry price, take profit, stop loss, success rate, and total profit/loss of each currency pair so you know exactly the result .
- Alerts, Email, and Push notifications - receive notifications when a new buy or sell signals are identified so you never miss another trading opportunity.
- Customizable, non-repainting, no backpaints - easily customize the color and the layout of the scanner. The indicator never repaints or backpaints.
- Can be used for scalping, intra day trading, and swing trading
- iCustom integration is available for Expert Advisors to automate the trading signals
Triple Moving Average Crossover Strategy
Buy Signal - A bullish signal is present when the fast EMA crosses above the middle EMA and the middle EMA is also above the slow EMA.
Sell Signal - A bearish signal is present when the fast EMA crosses below the middle EMA and the middle EMA is also below the slow EMA.
Recommended Settings (Fast, Middle, Slow MA Periods):
Scalpers - 5 EMA, 8 EMA, 13 EMA
Intra-day Traders - 8 EMA, 20 EMA, 50 EMA
Swing Traders - 20 EMA, 50 EMA, 200 EMA
Double Moving Average Crossover Strategy
Golden Cross (Buy) - A bullish signal is present when the fast EMA crosses ABOVE the slow EMA.
Death Cross (Sell) - A bearish signal is present when the fast EMA crosses BELOW the slow EMA
Recommended Settings (Fast and Slow MA Periods):
Scalpers - 5 EMA, 13 EMA
Intra-day Traders - 20 EMA, 50 EMA
Swing Traders - 50 EMA, 200 EMA
Note: You can change the moving average method manually to SMA if preferred.
How to setup a trade?
Make your trading much simpler with this 3 simple steps!
1. Trade Analysis
- Enter a trade if success rate is 70% or greater and the profit shows positive
2. Take Profit
- Option 1 - Take profit on TP1
- Option 2 - Partial Take Profit on TP1 and close remaining positions on TP2 and/or TP3
- Option 3 - Take Profit on opposite signal and ride the trend
3. Stop Loss
- Option 1 - set your fixed stop loss level based on provided SL value in the dashboard panel
- Option 2 - exit your buy position on a new sell signal and exit your sell position on a new buy signal
Moving Average Crossover Filter - sets the period of the slow, middle, and fast moving average. The default setting are EMA for moving average type, and the periods are 8 EMA (fast), 20 EMA (middle), and 50 EMA (slow).
Moving Average Crossover Strategy - allows you to choose the moving average strategy you want to apply on the chart. Options are Triple Moving Average Strategy and Double Moving Average Strategy.
Take Profit & Stop Loss - ability to modify the multiplier of take profit and stop loss. Higher multiplier might result in a lower success rate (recommended is 1.0). You can also disable TP2 and TP3 if you prefer just one take profit and also disable stop loss if you prefer to ride the trend.
Symbols & Timeframes - add the symbols and timeframes you want the scanner to show.
Dashboard Scanner Style - change the layout and color of objects in the scanner.
Chart Style - change the colors and visibility of objects drawn in chart.
Alert Notification - receive alerts via email, mobile push notifications or MetaTrader alerts window when a new buy or sell signals are identified.
If you have any questions, please don't hesitate to contact me at email@example.com or via a private message & I will be glad to help!
Thank you & happy trading!