Trade System Mirror Bands is a trading and analytical system that allows you to work on any financial instruments and time frames.
The system calculates its own readings, making it convenient to configure input parameters. The indicator shows signal lines containing input and output. According to the trend in both directions, only Sell or only Buy.
Keeps approximate statistics of potential transactions, general in the left corner of the screen and after the signal lines are closed. Arrows are used to open trades; most of the arrows are formed from the opening of the candle to the high/low levels of the previous candle. The arrows may flicker on the current candle, if the signal candle closes, the arrow does not disappear. Contains several types of alerts for signals.
The indicator can be used by any level of training, both beginners and those with some experience.
Set the stop loss 5-8 points from the entry arrow.
Make an exit based on volatility and time frame, on a small time frame 2-3 candles or 5-10 candles based on volatility, on large time frames 2-4 candles.
Recommended time frames to use are M5 to H4.
Main input parameters
- Bands Period - Period for calculating the trend band.
- Indicator calculation method - Signal lines are shown according to the trend, Sell only or Buy only.
- Signal smoothing level - Applying smoothing to generate signals.
- Signal level combining - Combining signal lines.
- Signal Line Width - The thickness of the signal lines.
- Bars Count - Number of indicator bars on the chart and for statistics.
