Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
"Bitcoin indicator" is a ready-made mechanical trading system for Bitcoin. The system is implemented as an indicator that shows the trader on the chart the price reversal points and the current trend direction. This information is enough to effectively trade in the market. The "Bitcoin indicator" consists of a complex analytical block that constantly analyzes the market and shows the trader where the trend is heading. The indicator also shows with dots on the chart, the price reversal points.
Scalping trading strategy with indicator:
- When the indicator draws a red dot, we open a buy order. Take Profit +105 points. StopLoss set at -50 points below the red dot. We select the lot size as follows: deposit up to $1000 - lot 0.01, deposit up to $3000 - lot 0.02, deposit up to $5000 - lot 0.04, deposit up to $7000 - lot 0.06, deposit up to $10000 - lot 0.1.
- When the indicator draws a blue dot, we open a sell order. Take Profit -108 points. StopLoss set +50 points above the red dot. We select the lot size as follows: deposit up to $1000 - lot 0.01, deposit up to $3000 - lot 0.02, deposit up to $5000 - lot 0.04, deposit up to $7000 - lot 0.06, deposit up to $10000 - lot 0.1.
p.s. you can also close trades at your own discretion if you see the market change direction abruptly or when you see the market continue to move further in the direction of the signal.
Benefits of the indicator:
- does not redraw its values
- works well on cryptocurrencies
- suitable for intraday scalping
- graphically shows the trader the price reversal points
- very easy to set up
"Bitcoin indicator" settings:
- period - indicator period.
- arrow_size - size of signal points.
- hovering - signal delay. Maximum value =5.
- ma_method - method for calculating the average.
