As seen from the name, the EXIT indicator aims at finding the best moments to exit an open trade position. The algorithm of this tool allows to quite accurately determine the weakening movement of short-term trends and give the trader a signal to a partial (or full) closing of the order.
The signals are displayed in two colors, as the indicator has a built-in trend filter, but the method of calculation is the same regardless of the direction of price movement. Therefore, you need to assess the situation when closing a position in accordance with your strategy, because you can have a signal to close a sell order while there is no downward movement yet, and the same for purchases. The indicator signals are never redrawn.
Settings and options:
- Period - the default value is optimal for most pairs.
- Threshold - the sensitivity. The higher the value, the more often it produces signals.
- Alerts - a sound alert and a popup window.
The default settings are suitable for timeframes H1 and above.