Please refer to the video for Demonstration.
In below commentary, I have covered additional information and emphasized few points from the video
|Q: A trading system that works well on EURUSD, will work 'equally well' on Bitcoin or Gold or even AUDUSD, in any market conditions?|
|A: Unlikely. Each market has its own characteristics. Some have long Trends, some are volatile, some are mostly range bound. E.g. For Bitcoin, Momentum trades could work best; for Gold, Trend Pullback; for EURUSD, Scalping and for AUDUSD, Reversals could work great.|
ProTradeSignals offers solution for this conundrum. Its Algo performs thorough Chart analysis using Multiple Timeframe Price Action, Volumes and Volatility.
It gives Trend and Momentum signals in Trending market. It gives Reversal signals when price is overstretched. It shows Scalping signals in volatile or directional market. In short, it may be used to trade in any market conditions.
Main indicator has 2 components:
1) Trading signals
Here arrows indicate Buy or Sell trading signals.
Up arrow: Buy signal and Down arrow: Sell.
Further, different colored arrows are used, just to differentiate types of signals.
Lime color: Trend Buy signal, Green: Scalping Buy signal,
Red: Trend Sell signal, Tomato: Scalping Sell signal.
Finally, White: Reversal signals. (Mean reversion or Trend reversion)
2) Adaptive bands:
These bands have twin usages. They can be used as Support & Resistances in consolidating markets; they can also be used as Target & Stoploss, specially, for Scalp trades.
Red band: For Buy trade signals, this can be used to book partial profits. For Sell signals, it can be used as Stop loss.
Green band: In Sell trade signals, this can be used to book partial profits. For Buy signals, it can be used as Stop loss.
Info Panel: It displays information for user's convenience.
- Trading Style: It shows indicator's currently set trading style
- Last Signal: It shows which was last trading signal on current timeframe
- Trend on Higher timeframe: Trend on one or two timeframes higher.
- Today's range: This shows how much is today's range with respect to past few days.
- General info about price with respect to prior day/ week/ month
- I recommend users to see indicator LIVE across their favorite markets, atleast for few days. It is important to understand, which Trading setups/ Trading Styles suit them more. This process will help users to utilize indicator better in LIVE markets, while trading with real money.
- Indicator uses Multiple timeframes for analysis. When you plan to use or test indicator, please ensure MT4 has historical data across timeframes for selected currency pair or market.
- Soon, for all clients, I shall provide crisp guide on effectively using the indicator in different markets. It will cover advanced topics like, Hedging and utilising volatility to maximise profits.
Thank You, for your interest and efforts to go through video, images and this commentary.
If you need any additional information about indicator or have any queries, feel free to contact us, either at mail ID TradingUnicorn@gmail.com or send message on this site.
I do not claim ProTradeSignals is a Holy Grail for trading. Holy Grail Trading system simply does not exist. But, ProTradeSignals will be a great tool to help you trade successfully, in different markets and market conditions.