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Elders rifle demo

Elder's rifle is a hybrid indicator which automates market analysis using the Elder's Triple Screen system

Attention: This is a demo-version of the indicator. It is meant for testing and has a reduced functionality. There are three currency pairs on combination of H4-H1-M15 ranges. Settings are not adjustable.

The full version can be found here: https://www.mql5.com/en/market/product/9335

How it works?

  1. The indicator analyzes six currency pairs using the Elder's Triple Screen system.
  2. The analysis is performed on 4 combinations of price ranges (Mn-W1-D1, W1-D1-H4, D1-H4-H1, H4-H1-M15).
  3. The indicator will send an alert with recommendations in case of a buy or a sell signal for any combination of ranges.


The indicator settings:

  1. Instrument_1 = "EURUSD"; - Select trading instrument.
  2. Instrument_2 = "GBPUSD"; - Select trading instrument.
  3. Instrument_3 = "USDCHF"; - Select trading instrument.
  4. Instrument_4 = "USDJPY"; - Select trading instrument.
  5. Instrument_5 = "USDCAD"; - Select trading instrument.
  6. Instrument_6 = "AUDUSD"; - Select trading instrument.
  7. Level_top = 80; - Select the upper level of Stochastic.
  8. Level_bottom = 20; - Select the lower level of Stochastic.
  9. TimeFrames - Select a combination of ranges by default (Mn-W1-D1, W1-D1-H4, D1-H4-H1, H4-H1-M15).
  10. Price_MACD_EMA - Determine the indicator's readings by the current and the previous bar (Current Price) or by the last closing and the closing before the last one (Close Price) for MACD and EMA.
  11. Price_ST_1_ST_2 - Determine the indicator's readings by the current and the previous bar (Current Price) or by the last closing and the closing before the last one (Close Price) for Stochastic.
  12. Alerts - Enable(true)/Disable(false) alerts.
  13. Alert_Interval = 5; - alert interval in minutes.


Preliminary signals:

A preliminary buy signal appears when the first, the second and the third lights are green. It means we should be ready to buy.

A preliminary sell signal appears when the first, the second and the third lights are red. It means we should be ready to sell.


When to open a position?

The Elder's system recommends to open a buy position when the first, the second and the fourth lights are green.

A sell position is opened when the first, the second and the fourth lights are red.

See the video below for detailed information:

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版本 2.1 - 2016.03.21
Fixed a bug with the incorrect display of the symbols after the release of the terminal update
版本 2.0 - 2015.09.15
- Size reduced
- Design updated