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mb308  

Hi, I bought Trade Scanner MT5. Love the multi-timeframe direction, but a few things are unclear.

Could you advise on the meaning on the parameters:

-          -  Period - period of the Trend Scanner indicator, and

-          -  Multiplier - Trend Scanner indicator coefficient.

Since the algorithm behind the indicator is unknown to me, it’s not clear how to fine tune these to parameters and what to look for.

Also, please clarify the meaning of the channel lines and how did you intend to use them.

Thanks!
Alfiya Fazylova  
mb308 #:

Hi, I bought Trade Scanner MT5. Love the multi-timeframe direction, but a few things are unclear.

Could you advise on the meaning on the parameters:

-          -  Period - period of the Trend Scanner indicator, and

-          -  Multiplier - Trend Scanner indicator coefficient.

Since the algorithm behind the indicator is unknown to me, it’s not clear how to fine tune these to parameters and what to look for.

Also, please clarify the meaning of the channel lines and how did you intend to use them.

Thanks!

Hello, the calculation of the indicator is based on ATR, respectively:

1) period - is the ATR period.

2) coefficient - this is the multiplier by which the resulting ATR value is multiplied.

mb308  
Hi, please look at the attached screenshot. Why does the Trend Scanner show D1 red while it is clearly in an uptrend on the daily chart?
Dosyalar:
GBPJPYbDaily.png  95 kb
Alfiya Fazylova  
mb308 #:
Hi, please look at the attached screenshot. Why does the Trend Scanner show D1 red while it is clearly in an uptrend on the daily chart?

Because the indicator calculations show that you need to draw a red line on this candle.

mb308  
Alfiya Fazylova #:

Hello, the calculation of the indicator is based on ATR, respectively:

1) period - is the ATR period.

2) coefficient - this is the multiplier by which the resulting ATR value is multiplied.

Do you have any recommendations on how to set up these parameters depending on an asset, time frame, etc.?

What is the logic of defining the trend based on the ATR?

Alfiya Fazylova  
mb308 #:

Do you have any recommendations on how to set up these parameters depending on an asset, time frame, etc.?

What is the logic of defining the trend based on the ATR?

They are set by default, but these settings were relevant at the time the indicator for EURUSD H1 was created. I don’t have any other settings, I recommend using the strategy tester to select settings for your trading strategy.

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