This is a simple and reliable indicator that can be used as an additional filter in your trading system. Also, you can create a new trading system based on the product.
The indicator is capable of detecting the rise and fall of the market on the selected number of candles (adjustable parameter).
Several indicators with different parameters can be applied to a single chart. COMMENT function has also been provided for more convenience allowing you to leave a comment at the line's end.
Added new trend tracking features:
There are three types of the trend applicable to any analyzed time interval: smaller, intermediate and main. This also mans that there three types of maximums and minimums of the fluctuations that correspond to these trends.
This version of the HiLo Activator v3 indicator implements the features of tracking and determining the period of the trend:
1 – smaller, 2 - intermediate, 3 – main, 0 – continuation or completion.
Icon sizes can be customized for all signals. At the value 0 the icon is not displayed.
If the price exceeds the previous fluctuation top, then there is an uptrend on the time format and the level (smaller, intermediate or main) on which the trading is performed. Trading should be continued only in the long direction until the price breaks the previous bottom of the fluctuation of the same level. Once the smaller bottom of the fluctuation is broken, the trader must wait for the intermediate or main fluctuation bottom to form before opening long positions.
- BARS= 3; - the number of candles, bars used for the calculation of the main trend line.
- COMMENT= "comment"; - Comment - displays your comment
Additional new parameters:
- Main size = 1; - Main size - the main trend line by bars, 0 - disabled.
- Trend size= 3; - Trend size (0 - hide) - the size of the additional trend line by the 0,1,2,3 points specified below
- Size _0 = 1; - Size 0 (0 - hide) - continuation or completion of the previous period, 0 disabled,
- Size _1 = 1; - Size 1 (0 - hide) - smaller trend period, 0 disabled,
- Size _2 = 2; - Size 2 (0 - hide) - intermediate trend period, 0 disabled,
- Size _3 = 3; - Size 3 (0 - hide) - main trend period, 0 disabled
- DoubleSignalAlert = false; - Double signal #3 - alert when a double signal №3 appears