Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
The presented indicator is essentially a separate trading system.
The indicator independently determines entry points and points for setting protective stop orders.
This product can be useful for both beginners and experienced traders, since it is developed on the basis of solutions proven by time and by professional traders.
On fully formed bars the indicator is not redrawn.
The indicator has the ability to send notifications to the terminal and email.
Technically, the indicator is a system of two fractal adaptive moving averages.
Fractal Adaptive Moving Average (FraMA) is a adaptive moving average developed by John Ehlers.
FraMA takes advantage of the fact that markets are fractal and dynamically adjusts the lookback period based on this fractal geometry.
Recommendations for use:
- 1. A trivial but important recommendation is to take into account the trend of a higher time period. The trend is determined based on the data of the same indicator opened on a higher period of the chart. Open trades only in the direction of the trend. Countertrend signals can only be used to close a position or set protective stop orders.
- 2. It is recommended to open a position only after confirmation of the signal given by the indicator. Confirmation is when the price overcomes the maximum (for buying) or minimum (for selling) of the bar on which the signal was given. Thus, it is rational to open trades by setting pending orders one point higher (taking into account the spread) or one point below the bar at which the signal was given.
- 3. Support/resistance points can be used both for setting protective stop orders and for deferred opposite orders.
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4. Control of an open position can be carried out according to the data of the same indicator opened on a lower period of the chart.
Customizable parameters:
- Period - period of data used to calculate the indicator;
- Price - price used to calculate the indicator;
- Main_multiplier - adaptive factor for the main line of the indicator;
- Signal_multiplier - adaptive factor for the indicator signal line.
Attention:
It should be taken into account that any market is constantly changing and there is no guarantee that methods that were effective in the past will be effective in the future.
To minimize potential losses, you should regularly optimize the product parameters, study the results of its work and withdraw part of the profit received.
It is recommended that before using the product on a real account, you test its work on a demo account on the same market and with the same broker where you plan to trade.
With respect and best wishes,
Andriy Matviyevs'kyy
P.S.
If you liked this product, I would be grateful for a fair assessment - positive user reviews motivate the author, and reasonable criticism allows us to make products better.
I suggest visiting my page where you will find many unique author's works that are the result of many years of studying exchange trading and FOREX trading.
