New indicator Impostol is based on the relative strength index (RSI) and trend indicator ADX. With it, you can identify a trend for your trade. Its signals are easy ti interpret, because it shows the recommended entries using up and down arrows. The indicator has a minimum of settings and is easy to use.
- Uses arrows to show market entry points.
- The indicator is not redrawing.
- Recommended timeframe is H1 and higher (lower timeframes can show false signals).
- Recommended currency pairs: EURUSD, USDCHF, GBPUSD, USDJPY, USDCAD.
- BarsToProcess — number of processed bars.
- Distance — indent of arrows from lows and highs respectively.
- SizeArrow — size of arrows (up to 3).
Points to remember for trading
After the first buy (sell) signal additional buy (sell) signals can appear on following bars which is an additional confirmation of the signal and continuation of a current trend. A signal which is opposite to the initial one or a definite profit can be a signal for closing a position.
- Improved performance.
- Completely new logic of filtering of false signals.
- Bug fixes.
- Optimization and sensitivity adjustment.