The indicator uses a kind of pattern breakout strategy to help your trading strategy. I am using this strategy on H4 charts for many of pairs with a trailing stop and default indicator settings. Better results are shown on USDJPY, EURJPY, CADJPY, EURGBP, EURUSD, USDCAD, USDCHF, NZDUSD and GBPUSD.
Trailing stops should be different for each pair. The best results are:
USDJPY 30
EURJPY 75
CADJPY 40
EURGBP 50
EURUSD 80
USDCAD 40
USDCHF 80
NZDUSD 40
GBPUSD 60
Do not hesitate to ask anything about the trading system or the indicator.
Inputs
SignalBar: Default is 5
WaitForBarClosed: Default is
false
.
True
means the arrow does not appear till the bar is closed.
False
– when the conditions are met, the arrow appears on the chart.
