FX ProTrend Detector
FX TrendPro Detector Short Description.
FX TrendPro Detector's calculations offers a solution of filtering market noise, also providing trading signals for entry.
FX TrendPro offers also a solution to easily back-test the indicator by providing a DashBoard with statistical calculations and chart visual drawing representations.
Note:Although this indicator is tailored specifically for FX when it comes to it's chart analysis it can also be used on other symbols, make sure you DEMO TEST first.
FX TrendPro Detector Features.
· DashBoard which provides statistical history about the indicator’s performance in the past for certain Take Profit points.
· Through the DashBoard of the indicator the user can see the current state of the potential trading signal.
· Also through the DashBoard you can see at a quick glance the Percentage WinRate and LossRate for certain take profit points.
· If certain alerts were missed you can still see the status of the signals through the dashboard.
· Visual statistical analysis to check past performance more easily.
· Easy configurable, with current settings works out of the box well on all Symbols.
Red arrow generated and the line turning to Magenta color signals a Sell entry.
Green arrow generated and the line turning to Aqua color signals a Buy entry.
FX TrendPro Detector suggested entry strategy:
Check for Buy Signal generated Green Arrow points up, line turns Aqua:
Check for Sell Signal Generated Red Arrow is generated, line tunrs Magenta:
User gets entry signal with TP1, TP2, TP3 and StopLoss points calculated by the indicator.
If TakeProfit1 is reached close half of your position set StopLoss to break-even and set your second take profit point on TP2 lvl or TP3 lvl calculated by the indicator based also on their win-rate.
The user can make use of the historical data and based on it can create an unique strategy that suits them.
FX TrendPro Detector Parameters are set into the following 3 categories:
- Category 1 Primary Settings:
- Length-> number of bars needed for the indicator to calculate.
- Factor->Parameter used to further filter the indicator calculations.
- PeriodAtr-> period of the ATR used to calculate the take profit points and stop loss point.
- Factor_TP1->Multiplier used in calculating your first take profit point based on the ATR calculated previously.
- Factor_TP2->Multiplier used in calculating your second take profit point based on the ATR calculated previously.
- Factor_TP3->Multiplier used in calculating your third take profit point based on the ATR calculated previously.
- Factor_Stop->Multiplier used in calculating your stop loss point based on the ATR calculated previously.
- Category 2 Cosmetic Settings
- DrawBackTestData-> refers to whether or not to draw trigger arrows TakeProfit lines StopLoss lines and and other back test obejcts used for visual representation of the indicator's past performance.
- DrawDashBoard-> refers to whether or not to draw the DashBoard which contains the statistical data over past performance.
- UpArrowColor-> Color of the Buy Trigger arrow signal.
- DnArrowColor->Color of the Sell Trigger arrow signal.
- TakeProfitCursorClr->Color of the line which is drawn from entry point to Take Profit point.
- StolLossCursorClr->Color of the line is drawn from entry point to Stop Loss point.
- PIPS_WONclr-> Color of the number of pips won from entry point to TakeProfit point
- PIPS_LOSSclr->Color of the number of pips visually represented on the chart lost from entry point to Stop Loss point.
- Category 3 Alert Settings.
- alertsOn->Enables or disables all alerts.
Use this indicator to suit your own trading approach and adapt to the changing markets.
Adapt, change settings and choose pairs to trade which have the highest win-rates.
Past results don't guarantee future results.