Trade by levels
The Trade by levels indicator is designed to automatically determine the formation of a model for entering the market on the chart of the selected instrument.
⦁ BFl is the bar that formed the level.
⦁ BCL1 and BCL2 bars, confirming the level.
The graphical model:
⦁ levels high\low the bars BFL and BCL1 must match the accuracy to the point
⦁ there can be any number of bars between BFL and BCL1.
⦁ between BCL1 and BCL2 intermediate bars should not be.
⦁ the value of a hi / lo bar BCL2 may be different from the level values (BFL and BCL1) the size of the backlash. Backlash no more than 2-3 points.
⦁ in General, the model is formed by 3 bars: 1 bar – forms a level. 2 bar-confirms the level. 3 bar also needs to confirm the level, 4 bar is the entrance.
Model trading rules:
- Trading is carried out according to the trend of limit orders. Traded only the rebound from the levels.
- You can trade against the trend in the following cases:
⦁ if the current price of the instrument is near the level.⦁ if the Issuer has passed at least 75% of its ATR.
- 30 seconds before the closing of the BCL2 limit order is set with an indentation above/below the level of the backlash size (2-3 points).
- Stop is placed over the high of the false breakout (if it was) +/- 1-2 points. The size of the stop does not exceed about 15 points.
- If the order is not opened, and the price has passed 2 actual stops from the price of the pending order – the order is canceled.
- Tool: any.
- D1-to determine the trend, the ATR value for the last 5 days.
- H1-to enter a trade on the model signal.
- Period APR (day) - the number of days to determine the volatility of the instrument
- Ratio for TP / SL - selected ratio of stop loss to take profit
- Risk for calculate Lot, % - Selected risk percentage for lot calculation
- Gap for level on BCL2 - "backlash" Size for BCL2 bar
- Bars for calculatr trend - number of days to determine the trend
- Text color1-color of the indicator label
- Text color2-color of the indicator label
- Text color3-color of the indicator label
- Font size - font size of labels
- On / Off Alert-Enable popup window