Beast Super Signal
This indicator combines 5 powerful strategies including, Fibonacci Pivots, Elliot Wave Theory, Overbought & Oversold Zones, Trend Analysis, and Price Action.
The Beast Super Signal indicator will monitor the price, and only when all 5 of the internal strategies align, and are in 100% agreement with each other, the indicator will give a Buy or Sell signal. All you need to do is buy or sell when you get a new arrow alert, no additional confirmation is needed!
The Beast Super Signal indicator can be used on ALL currency pairs, indices, and commodities.
***This indicator is 100% NON repainting!***
Please note it is NOT optimized for trading cryptocurrency pairs, and binary options.
The Beast Super Signal indicator will give you Entry, Stop Loss, and 3 X Take Profit level suggestions which you can use if preferred.
There are 3 input options for calculating how the TP & SL levels are calculated on the chart.
- TP & SL levels are calculated using Pivots, and average daily volatility.
- TP & SL levels are calculated using ADR (Average Daily Range) and the user has the option to select the ADR period.
- TP & SL levels are calculated using Risk & Reward ratios 1:1, 1:2, and 1:3.
There are parameters in the input settings to further customize the indicator to your own preference, however the standard default settings have been optimized for best performance.
Best results, and recommended trading time frames is H1 & H4. Scalping on lower time frames (M1, M5, M15, etc.) implies higher risk as lower time frames are more volatile, less accurate, and major trends tend to respect higher time frames more than lower time frames.
Trading on lower time frames or scalping is not recommended, and should you wish to, you do so at your own risk!
**You can find an EA version of this indicator here:**https://www.mql5.com/en/market/product/33401
Parameters & Description
- Bars to Calculate - Select how many bars back you want the indicator to calculate.
- Overbought Entry Zone - Select the Overbought level.
- Oversold Entry Zone - Select the Oversold level.
- Pivot Level Zone Points - Set how many points you want the Zone size to be above, and below the Pivot line.
- Pivot Time Frame - Select which Pivots you want to use (Daily, Weekly or Monthly)
- Show Take Profit Levels - Select to show the Entry, Stop Loss, and Take Profit levels on the chart.
- Use ADR Take Profit - Select to use ADR levels instead of Pivot, and average daily volatility.
- ADR Period - Select the ADR period you want to use.
- Use Risk Reward - Select whether you want to use Risk Reward ratio for Take Profit & Stop Loss levels.
- Stop Loss Level Color - Select to change the color of the Stop Loss line on the chart.
- Take Profit Levels Color - Select to change the color of the Take Profit lines on the chart.
- Entry Level Color - Select to change the color of the Entry line on the chart.
- Use Pop Up Alert - Select to enable Pop Up alerts.
- Use Push Alert - Select to enable Push alerts.
- Use Mail Alert - Select to enable Email alerts.
If you have any further questions please feel free to ask, and I'll be happy to assist you. I wish you best of success with the new Beast Super Signal!
We have also added a Risk Reward option when using the TP & SL levels. You can now choose to use 1:1, 1:2, 1:3 as TP.
There were also some minor updates to the logic and how it filters out false signals improving the accuracy even further.