The Trade Helper indicator is a modification of the Trade Assistant indicator (by Andriy Moraru).
The Trade Helper multitimeframe indicator is a good assistant for traders, useful as a filter in most trading strategies.
This indicator combines the tactics of Elder's Triple Screen in a single chart, which lies in entering a trade when the same trend is present on three adjacent timeframes.
The indicator operation is based on the principle of determining the trend on the three selected timeframes using the combined algorithm of indicators Stochastic, RSI and CCI.
The indicator shows the current trend direction for the M5, M15, M30, H1, H4, D1 and W1 timeframes on one chart.
Regardless of the selected timeframe, the information panel of the indicator displays 7 timeframes, showing the current movement with arrows.
Open a position when all indicators show the same direction not only on the selected timeframe, but also on both adjacent timeframes.
For example, when the H1 timeframe is selected, and the trend matches on M30 and H4, open a position at the close of the hourly candle in the direction matching in the three timeframes.
- K Period - period in bars for calculation of the line %K of Stochastic.
- D Period - period in bars for calculation of the line %D of Stochastic.
- Slowing - Slowing value of Stochastic.
- Fast RSI - fast RSI period.
- Slow RSI - slow RSI period.