Trade Filter I
Trade Filter 1 is a versatile indicator for working on classical charts.
Depending on the settings, the indicator defines market entry points from zones to individual bars. It can be used both as a trend filter and for detecting corrections.
Blue zones hint at a possible bullish reversal, while red zones - at a bearish one provided that entry filtration is configured properly.
The moving average serves as a reference point for the average price impulses and can be used as an additional criterion when deciding on entering the market.
The product is based on Trade Filter X indicator. It is recommended to use it in conjunction with other indicators in the trading strategy.
- per - indicator calculation period.
- ma - moving average period.
- typebar - filtration by bar type (only up bars are taken into account for defining a bearish reversal, while only down bars are used for defining a bullish reversal).
- typeset - filtration by price label location on brief history.
- sizebar - cancel the typebar filter if a bar is less than a specified value (in points).