Unknown 14 March at This indicator evaluates the market sentiment using raw price action measurements, and it is an amazing trading confirmation. Keltner Channel A multi-timeframe indicator designed to find overbought and oversold price areas, using a moving average and ATR. This indicator plots an oscillator of your choosing for many symbols and timeframes in a single chart. If there is a time overlap between these two sessions, which have different colors, the overlap period combines the two colors to create a third distinct color.
May 24, · I have been exploring this with my current indicator (see attachment). This is fine for tracking the currencies by time frames, however, I would like to track the currencies by sessions. This is fine for tracking the currencies by time frames, however, I would like to track the currencies by sessions.
McClellan Indicator is the indicator of technical analysis characterizing market dispersion its width by analyzing the number of growing and declining instruments in the period.
One of the most popular indicators of that type. McClellan Summation Index is formed on the basis of McClellan Oscillator and this index is a separate market technical indicator. We will be pleased to answer any questions you may have. Huckster Forex Advisors Shop. For example, using it as the sole signal point — zero line.
In this case the following should be done: If oscillator crosses zero line from bottom to top, we shall open a long position or close a short one If oscillator crosses zero line from top to bottom, we shall open a short position or close a long one Also there is an opportunity to apply classic strategies for oscillators, for example: Strategies on the basis of McClellan Summation Index A justified application of trading strategy for McClellan Summation Index is the drawing similar to McClellan Oscillator's building in the part of matching with zero point.
If oscillator crosses zero line from bottom to top, we shall open a long position or close a short one If oscillator crosses zero line from top to bottom, we shall open a short position or close a long one Original methods for this strategy are represented below: Pullback resistance turns into a strong graphical overlap resistance if price reverses off it.
This shows that there are more bears than bulls at this key decision point. I highly recommend watching this video to see how the support and resistance indicator works on an MT4 chart. I explain in detail the settings below too. There are a few settings that you should understand about this indicator to better help you use it effectively.
This means that for example, if you have 20 as this value, then the swing high would require 20 bars to the left and to the right of it to be lower than it to create the swing high point. This is not a hard and fast rule, rather, the main idea is to provide more scanning area for overlaps as the time frame goes bigger.
This works the same way as InitialPips. A value of 0 means that the level can be broken only once. If it is broken a second time, it disappears. I prefer to keep this at about 3 across all time frames. This helps you pick out which are immediately the stronger levels to watch out for.
If you want a copy of this indicator, please click the link below. Horizontal support and resistance are graphical. There are 5 other things you can add that can not only add different dimensions to assessing the strength of these levels, but also greatly improve the probability of price reacting off these levels you have identified:. If it does, that increases its strength. The key levels to watch out for are This adds a different dimension into assessing the strength.
The perfect scenario would be when all the elements line up together, however, that is rarely the case. A good approach would be to allocate different risk for each type of trade.
With each new element you find, you can add on another 0. A good and easy way to manage your risk allocation to each trade is with our very own TFA Trade Manager , designed to work intuitively to your flow of trading. All other trademarks appearing on this Website are the property of their respective owners.
Disclaimer and Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading.
Freedom in marking and drawing objects
Currency Heat Map Metatrader 4 Indicator. The Currency Heat Map MT4 indicator enables you to find the best possible currency pairs to trade at any given time. Green colored currencies: strong; Red colored currencies: weak. Trading Signals: BUY: Buy the strongest currencies (green) against the weakest currencies (red). Heat Map – indicator for MetaTrader 4 is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data. Heat Map – indicator for MetaTrader 4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Probably the best way to use this Forex Heatmap is get an idea if the particular Forex pair is trending consistently. If you see red across all time frames, then it’s time to take a look at the charts in your MT4 Platform for confirmation and to use the indicators that you are comfortable with to make an informed trading decision.