Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
Linear indicator for trend trading based on the wave principle. It has a trend line guide and a special oscillator that determines price movements between the upper and lower ranges.
For convenient work with the indicator, there are 2 input parameters that need to be changed for different time frames. For younger ones, make the values larger, for older ones, smaller.
- The indicator's trend line guide signals which way the market is moving. When the orange trend line crosses the zero level from top to bottom, the market is bearish; when it crosses from bottom to top, the market is bullish.
- The oscillator is a dynamic line moving between the upper and lower ranges. Potential signals during wave movements are the moments of exiting the ranges.
- For buy signals, the blue line will exit from the lower line level.
- For sell signals, the blue line will exit from the upper line level.
- The indicator does not repaint.
- Works on any trading instruments
For convenient work with the indicator, there are 2 input parameters that need to be changed for different time frames. For younger ones, make the values larger, for older ones, smaller.
- Trend Line Period - Changes the period of the main trend line (orange)
- Signal Line Period - Changes the period of the signal line (thin blue)
