Skalpex is a system indicator for wave diagnostic analysis of the early phases of a market condition. The indicator lags exactly 1 bar. It shows the exact price reversals, does not redraw its values, but is 1 bar late. This is due to the fact that the last (zero bar) has not yet been formed before closing, which means that no one ever knows where it will go exactly and where it will close. We can assume. In order not to try to play fortune-telling, the Skalpex indicator is late by one candle and shows its signals already on the formed bars, after they have closed. But for an experienced as well as a novice trader, this can be very useful information. Thanks to the Skalpex indicator, with a delay of only 1 bar, we can precisely know the price direction. And if a long price movement (long wave) is planned, then the delay in 1 candle is not significant and we can extract profit from this signal. If the movement is short, then we can close the StopLoss deal and wait for another signal. It is a pleasant fact that in volatile markets, for example GBPUSD, about 93% of movements are over a long distance. Even with a delay of 1 candle, we can still enter the market. But the indisputable advantage of this indicator is that it never redraws its values. If the indicator drew an arrow, it will remain on the chart and will not be redrawn.
How to interpret indicator signals:
- It can be used as an additional signal to confirm the entrance to your trading strategy.
- You can open trades by the signal of the indicator. If the price went in the direction of the signal, we close according to TakeProfit, if the indicator drew a signal in the opposite direction and the transaction did not have time to close, close the transaction and wait for a new signal.
Skalpex indicator settings:
- period_long - period of the long wave.
- period_short - period of the short wave.
- bars - the number of bars on which the indicator will be displayed.
Also see our other indicators and robots at the link: https://www.mql5.com/en/users/master-mql4/seller