Arrows appear after Reversal-Pattern and when the confirmation-candle reaches its value, it won't disappear (no repaint).
- but with fix settings
- no additional settings necessary
- Entry : immediately after arrow
- Stop loss : a few pips above the high of the arrow - candle / below the low of the arrow - candle
- Take Profit : at least the next candle / move to break even after candle closed / trail the SL
- works on : Major Forex-pairs / M15 and higher time-frames
The Value of the confirmation-candle => 20% of ATR20 from current time-frame;
Input parameters
- Bars to process - the number of periods of the chart, that are involved, if you use a M15 chart, one day only - 200 should be enough
- Time-Filter - (Broker-Time)
- Hour to Start - select working-hours, let's get Reversal-Patterns to the right time, avoid weak trading hours, like the Asian session
- Hour to End - select the end of working-hours
- Alert - to get the alert on your screen
- Email - "Tools, Options, Email" has to be enabled
- Push Notification - for alerts on your Smartphone - APP
- brief Comment = "example" - change "example" in what you like, it will come with the alert as additional info
- Email Header = "MT4 Reversal Trend Activity" - change in what you like, it will come with the alert as Header
- Trend - Settings
- custom Settings - use the three moving averages for the trend-direction, the arrows will appear in trend-direction only
- custom Settings inverse - arrows against the trend only, looking for real trend-changes
- pre-defined Trend 8, 13, 36 ema - example-settings
- MA I / MA II / MA III - for custom Settings
- MA Mode I / MA Mode II / MA Mode III - for custom Settings
- include Engulfing Pattern - instead of the reversal pattern, an engulfing pattern is used, the confirmation candle continues to hold
- Momentum - Momentum off | medium Momentum | strong Momentum
- the Reversal-Trend-Indicator comes with medium Momentum-settings, these settings show good results, but if you want all signals without any Momentum or maybe you are lookíng for a Reversal-Pattern with stronger Momentum - you've got the choice
- Reversal-Pattern plus ATR in % = 20 - this is the ATR value - the price that has to move until the arrow or alert follows
- Arrow Style - a various of arrow-styles, also Smiley, Envelope, Phone
- no joke, if you set up the Reversal-Trend-Indicator for Email-Info only, mark ist with an Envelope-Symbole in the chart, and the same for a Push-Notification only with a Phone-Symbole
- Arrow Position - distance between candle and arrow
Nevertheless, there is always a risk, the pattern is just a chance of a reverse, only a chance, please do not forget this, at least watch the upper time-frames, the last 10 arrows of replicability, and calculate your risk carefully.
