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Retracement Feeder

5


The Retracement Feeder checks for retracement opportunities after the first move has occurred. 

Basically it scans for the second wave of trend.

  • Works with any financial instrument, 
  • It does not repaint/change color or cancel arrows,
  • Easy to set and use.
  • Works great with Renko Charts

MT5 version: https://www.mql5.com/en/market/product/71340


How it works

  • The indicator is based on RSI and Stochastics. 
  • The algorithm used in the Retracement Feeder allows the Stochastic and RSI to minimize the turns and twists thereby reducing false oversold and overbought signals.
  • It scans for a buy retracement when the asset is oversold and for sells when overbought.
  • Place a buy entry if a candle opens above the upper trendline irrespective of the arrow that forms. If a sell arrow forms but the following candles open above the trendline open buy since the reverse signal has been initiated. Same rule applies to sells.

Settings

The indicator is straightforward to set up

  • Stochastic %K Period  [This is the Stochastic period. The tests have been conducted with a value of 100]
  • Stochastic %D Period   [This is the %D period. The tests have been conducted with a value of 1 ]
  • Stochastic Slowing   [This is the Stochastic slowing. The tests have been conducted with a value of 1 ]
  • RSI Period[The value can be adjusted if needed]
  • RSI Price  [You can tinker this, but close has been used to test efficiency]
  • Enable Alerts  [email, screen, and metatrader notifications alerts]
  • History Bars to Display  [This is the number of arrows you want to display on your mt4]

The default values work fine. Send me a PM for specialized settings for any of your instruments







İncelemeler 1
zakey_ahmad
73
zakey_ahmad 2021.06.26 19:29 
 

good indicator

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Innovicient Limited
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Innovicient Limited
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Innovicient Limited
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Hot Zones MT5
Innovicient Limited
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Innovicient Limited
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Innovicient Limited
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Trend Support Resistance is a fairly simple indicator that provides traders with confirmed immediate support and resistance in whatever timeframe you monitor. It's good for short-term and long-term order blocks. With the default settings, the indicator identifies critical support and resistance areas. Bearish Order Blocks are around the OrangeRed areas while Bullish Order Blocks almost always form near the LawnGreen areas. We have also added a Multi-timeframe feature that can be helpful to allow
The Essential Trader indicator is more   comfortable with whipsaw/ranging market conditions. It is not a complicated trading indicator and can be used on any timeframe with high level of confidence. Besides, it has notifications and alerts. The dotted essential points show spots where you can make immediate entries and benefit from breakout on either side of the region. On the other hand, the color filled points display reversal regions. These are important in that you can trade along the trend
Filtrele:
zakey_ahmad
73
zakey_ahmad 2021.06.26 19:29 
 

good indicator

Innovicient Limited
9072
Geliştiriciden yanıt ALFRED MURIITHI 2021.06.26 20:14
Thank for your review. We are humbled to have contributed to your trading 🙏💖
İncelemeye yanıt
Sürüm 1.9 2022.07.29
Improved indicator to work better
Added better filters
Can work better with Renko Charts
Sürüm 1.8 2022.07.04
Interface improvement.
Sürüm 1.7 2022.02.22
Interface bug removal
Sürüm 1.6 2022.02.21
Adjusting default screen alert.
Sürüm 1.5 2022.02.11
Added Signal validation mechanism
Sürüm 1.4 2021.09.25
User interface improvements
Sürüm 1.3 2021.09.25
User interface improvements
Sürüm 1.2 2021.09.14
Interface improvement.
Sürüm 1.1 2021.06.09
1. Fixing bug in the alert system.
2. Allow Arrows to form in current bar.