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Supertrend indicator is available for both ninjatrader and metatrader trading platforms. It is based around Average True Range calculations.   It’s a very tidy looking trend indicator. Price above the line means buy…price below means sell. As will all trend inidcators there are issues when the markets are in tight ranges, expecially if you are trading intaday.   In these cases you can use it purely as a trend indicator with a secondary indicator as your entry.  

The Chande Momentum Oscillator (CMO) indicator for MetaTrader4 was developed by Tushar Chande and is deployed in measuring “pure momentum.”   The CMO_v1 indicator is quite similar to momentum indicators like the Relative Strength Index, Stochastic and Rate of Change, but its enhanced and exclusive features makes it a convenient tool in the trader’s arsenal.   The sole purpose for the CMO_v1 indicator is in being able to spot overbought and oversold conditions in the market.   The indicator is quite easy to interpret; with its readings held up in a band between -100 and +100, which makes its analysis quite similar to the Relative Strength Index.   As such reading above 50 are considered as being overbought, while values below -50 represents an oversold condition.   As we all know, oversold and overbought conditions tend to pave the way for price reversals, thereby generating entry signals.   There are situations in the market where traders tend to use the CMO_v1 indicator to confirm potential trends.   Traders tend to initiate positions when the CMO_v1 indicator has a high reading and exit such position(s) when the indicator moves below a particular threshold.   If a forex pair’s price action or another technical studies depicts trend, but the CMO_v1 indicator reveals a choppy or sideways market (when the CMO_v1 values range between -25 and 25), it is a signal depicting a lack of momentum.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (Length, Price), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: momentum oscillator, trend

The Volume Rate of Change (VROC) indicator for MetaTrader 4 is a multipurpose technical studies that is built on the standard that key price reversals are usually characterized by heavy volumes, particularly at their troughs and peaks.   More weight or validity is added to the reversal upon confirming change in price with volume.   Example Chart     The VROC indicator rises when the current volume surpasses what it was previously and the VROC indicator is in a decline when the current volume is lower than what it previously was.   This is to say that the VROC indicator spots volume increase that are cited at important peaks or troughs and also during breakouts.   The VROC indicator employs an easy calculation in which the volume of the previous specified periods minus the volume of the current bar, divided by volume n bars ago and multiplied by 100.   The trading indicator comes with a default “PeriodROC” value of 25 and this can be tweaked. For short term outlook, distinctive values should be between 10 -15 bars.   The problem with this value is that sudden peaks are created as a result of sudden price change.   Long term outlook such as those of daily, weekly or monthly time frames should adopt a “PeriodROC” value of 20 and above.   For a more realistic view, I’ll employ chartist to use a 25 – 30 day period; this is because this length of time allows the chart display a smoother and a more rounded view.   Altering the values of the “PeriodROC” in the indicator’s parameter setting can alter the indicator’s sensitivity.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (PeriodROC), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: volume, trend

Posted by sastroacha

I came across a system called Black Dog a while a go.   Naturally, as time has passed the “secret” to the method seems to be out of the hat. Having looked at the Black Dog System site and various forums it has been possible to obtain a template and indicator that look very similar to this system.   Having not bought this Black Dog system myself I can not state if the attached indicators are exactly what is represented in the original system but you can have alook at it and see if there is anything in the indicator/template attached.   (add both to your MT4 platform..please note the template will only load properly if you have the indicators it needs to load)   If you go on to most of the forex forums you will find a few discussions about the Black Dog trading system. I came across a decent thread on ForexFactory which will help you if you want to trade like other Black Dog traders.   Have a play with the indicator and see what you think.

The Mass Index forex indicator for MetaTrader4 was developed by Donald Dorsey and deploys the high-low range to spot reversals in trend in respect to expansions in range.   In this vein, the Mass Index is a volatility technical studies that is devoid of a directional bias.   In its place, it spots range bulges that usually warn of a possible reversal in the current trend.   Basically, the Mass Index does remarkably well at spotting impending change in trend, but cannot tell the direction the trend is changing.   Example Chart     Mass_Index tries to spot “reversal bulges” as described by its creator. When the Mass_Index moves above the 27 level, a bulge kicks in. The signal is not complete on the initial bulge.   The creator of this indicator waits for the bulge to reverse with a move below the 26.50 level.   Upon completing the reversal bulge, chartist are expected to deploy other technical studies to ascertain the direction of the next price move.   The Mass_Index surges as the high-low range widens and dips as the high-low range narrows.   Preferably, a downtrend that is trailed by a reversal bulge would indicate a bullish trend reversal.   On the contrary, an uptrend that is trailed by a reversal bulge is indicative of a bearish trend reversal.   To be able to yield more signals, chartist should deploy other analysis procedures to compliment the Mass_Index indicator.   Volatility can always be measured using standard deviation or other technical indicators like standard deviation, while the reversal bulge function of the Mass_Index can offer a matchless outlook regarding the condition of the market.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (EMAPeriod, SecondPeriod, SumPeriod), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: volatility, trend

I have come across this clever indicator that I have add to the site collection. In short it allows you to superimpose one chart on top of another. So you could overlay a Dax chart with the FTSE or more likely, a USDGBP with GBPEUR. You are also able to inverse the overlayed chart so that you can reverse a Forex Pair. You can also add a moving average to it.   I think it’s quite a good little indicator. Take a Look.

Posted by toyafields

Here is a little additional adjustment to the BB Squeeze indicator for metatrader. I had some arrows coded so you can quickly see when the histogram starts to decline or rise. It is by no means meant to be used as an entry method but I know Carter used a two consecutive bars to exit a position but I find this too slow on the FTSE 100.   One bar could be used as an exit especially for those who like to exit in parts as the position develops. Or I have noticed on some markets (on a very quite look) that the first arrow is often false but the second a better indicator. So you could use the second arrow to exit a trade or enter a trader when you see a red arrow after a blue one when the histogram has been red for a while.  

Posted by marykeating

This is not so much of a review as a helpful hint. Sniper Forex system is a manual system that has been around for a while now and in all fairness has had relative positive reviews. It does not claim to be something it’s not and does not lead you up the garden path..or at least not like some Expert Advisors do.   Sniper forex trading system is a set of indicators combined with various but straight forward rules for entry and exit. It is clear from a visit to the Trade2Win forum and a read of 120 odd pages on the subject that people definitely rate this or at least the principle behind it.   When I asked the members to name something they liked and something they disliked about it, it was met with the response; “I can’t think of anything I like least. The system is as good a system as you are likely to find out there. It is really good at catching the trends, but like any system, the ranging markets are hard on it. Even on ranging, most times the stop outs are at a minimal pip loss“.   And there are plenty of examples of “tests” that suggest that risk to reward ratio is excellent, which if you know me by now, is in my opinion the most important factor to consider in a trading system. So all in all, Sniper Forex would seem like a system to try out.   The good thing about Sniper Forex is that you are able to have a trial demo for free when you visit their site. And this is where things started to get interesting. Purely by accident I notice a similarity between one of the indicators and one I already had on my chart. After adjusting the settings on my chart I noticed it was actually identical.   So I started to have a look at the other indicators and could see by the settings on the indicator that one shared very similar settings with a well know common indicator. So on comparing the two it was clear again that this indicator is a common indicator.   I am also happy to say as of yet I haven’t identified the 3rd (and 4th) indicator but I am sure it won’t be too hard to discover after a little more work. So why am I telling you all this? In all honesty, compared to some system sellers,Sniper forex comes across and pretty good. However, I am not sure I could suggest that you part with nearly $300 for something that is for sure half based on common indicators. Ideally I would rather see something such as Sniper, being sold with free open source indicators and sold as a detail trading method based on those indicators. Rather than making the indicators out to be some secret clever indicators.   That being said…I can’t fault that the indicators look nice when they are displayed in the sniper format but is that really worth the cost? Probably not. I would rather the method with full disclosure of the indicators were sold for $30-$50 or suchlike.   Anyway, below are the indicators I think are common indicators. Take a look yourself. Try the demo and compare and decide for yourself whether you need to pay $300 for the ‘other’ indicators.   Here is a quick chart with the Sniper Forex indicators on.     You will notice the 3 lines than move in tandem with each other. Those are the Sniper’s signal lines. You will see that the middle line is coloured green when the others are coloured blue. This is because this is actually a Hull Moving Average which I added to the chart set to period 30. This matches the Sniper indicator’s middle line perfectly. as for the other two lines I would suggest that they are a Hull moving average applied to the high and to the low, although I have not tried it.   The bottom indicator called Sniper Trend B is basically a Parabolic Sar set to 0.01 and 0.1 in the settings and displayed a a red bar when the price is below it and blue bar when the price is above it. Simple as that.   As for the other indicators, I would need to do some more. For the stop signal one could try something like supertrend or chandelier exit or even another parabolic Sar.   I think the two indicators mentioned above could be enough for someone to base their own trading system on. But I think what this post does show is that when things are displayed differently they often look more appealing. Also when they are advertised as mysterious indicators they seem even more attractive. But in reality, mot much is new in this game anymore. It’s all just repackaged and re-priced stuff from old.   Hope you enjoy the Sniper Forex System if you do buy it and hope you enjoy making your own system if that is the path you choose. Clicking on any of the indicator names will take you to the indicator download page where you can download various versions of these indicators for free.   Here is an ATR Stop indicator that may do the trick for the stop. Have a play with the settings and let me know.   An update on Sniper Forex:-I think I may have cracked the Trend A indicator. I should have noticed it before. Ignoring why the blocks rise and fall it looks like the colour changes on closing bars/periods below or above a moving average.Maybe the Hull moving average. A faster one that the centre line.   Some times it’s one bar out or two but that could just be the difference in the way it was/is calculated or maybe it’s based on a close below the low and high hull moving average.? It may be based on whether the MA it is based on is sloping upwards or downards but would need some more time to look into it. But if you have a play with various Moving averages I am sure you will see how close you can get it to Sniper Forex. You will probably also see how little differences the variation between different indicators matters.

Posted by michaeloliver

The Spearman Rank Corr indicator for MetaTrader 4 was initially implemented from the field of statistics.   In 1904, Charles Spearman was able to design a statistical gauge for the strength of association between two variables, which obviously became the basis of the rank correlation coefficient, and was named after its creator (Spearman’s rank correlation coefficient).   The variable that is used in the calculation is the date, not the price, meaning prices are reflected in relation with their appearance during the session under watch, thereby accumulating a link between these two variables.   Example Chart     The adjustable parameters includes the “rangeN, CalculatedBars, Maxrange and direction.” Although the SpearmanRankCorr indicator has only been available recently, tweaking the values of the variables will allow chartist get best setting.   Short-term traders are advised to adopt short period length i.e. short values for the “rangeN,” while long-term traders are required to adopt long period length i.e. long values for the “rangeN” parameter variable.   The SpearmanRankCorr indicator fluctuate above and below the zero signal level.   When the SpearmanRankCorr indicator is positive, it indicates a positive relationship between surging price and date.   Howbeit, if the SpearmanRankCorr indicator is negative, it indicates a dipping price while the date continues to surge (since it is impossible to find declining dates).   This presents an extreme negative relationship. Interpreting the SpearmanRankCorr indicator is similar to those of other oscillators.   Hence, if the line of the SpearmanRankCorr indicator breaks above the zero line, a buy is considered, while a sell is in place when the line of the SpearmanRankCorr indicator breaks below the zero line.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (rangeN, CalculatedBars, Maxrange direction), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: oscillator, trend

Posted by angelacomes

Further to the artcile on Renko Charts For Ninjatrader I have been on the hunt for some renko chart indicators for metatrader.   They are numbered in no particular order. Some are the actual box charts and some use a line based ATR indicator on top of price.   Version 3 is the one I have used but I haven’t always been able to get it working. First think to understand is that the indicator once installed properly will show historical price action as a very neat trend and you should know that it does not represent how the renko boxes would have looked in real time. This is because metatrader does not store tick data historically.   Here are the installation instructions. (taken from forexfactory)   After placing the script/indicator or EA in the proper folder they need to be compiled. The easiest way to do this is to shutdown then restart MT4 Directions for Installing as a script : Must be done each time you restart mt4: 1. Place the mq4 code in the Experts/scripts directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open. Directions for Installing as an Indicator : 1. Place the mq4 code in the Experts/Indicator directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.   To install as an EA : 1. Place the mq4 code in the Experts directory. 2. Make sure to check the “Allow DLL imports” and “Allow import of external experts” boxes (both of them) are checked. they are under the Saftey section of the Common tab 3. Also check the “Allow live trading” box in the Live Trading section of the Common tab. Also make sure the Expert Advisors button is depressed in the Gui. When everything is good a smiley face will appear in the upper right hand corner. 4. Drop the ea on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.   To view the Renko Chart : 1. To open offline chart : click File(from menu) >Open Offline and pick the chart you want.

The Fractal Adaptive Moving Average (FRAMA) indicator for MetaTrader4 that was created by John F Ehlers.   The indicator takes advantage of the fractal nature of the financial markets.   A fractal shape can be fragmented or rough and can be divided into segments, each of the segment can be seen to be somewhat similar to a condensed size replica of the original.   Example Chart     The FRAMA indicator averages the differences of the highest highs and lowest lows over varying segments of the length of the period.   The values obtained are mathematically manipulated using the Boolean questions, Euler’s number, natural logarithms, and, along with some pointer from the previous Fractal Adaptive Moving Average, the most recent Fractal Adaptive Moving Average is shaped.   The period length of the Fractal Adaptive Moving Average as well as the price type can be tweaked to reflect the trader’s preference.   The main idea behind the FRAMA is to take into thought just very crucial price changes. If price heads in a particular direction significantly, the FRAMA indicator is able to follow price very tightly.   If price finds itself range bound and doesn’t makes any crucial move, the FRAMA stays flat. The FRAMA essential divides the activity chart smaller groups and then compares these groups one after the other.   This means the activity chart is a cluster of a lot of squares i.e. smaller and larger ones.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart pattern indicator Customization options: Variable (PeriodFRAMA, Price Type), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: trend

Posted by ebonyroberson

Ehler’s Fisher Transform is probably one of the least lagging crossover indicators available to the modern trader.   Apparantly it is “based on the assumption that prices do not have a Gaussian probability density function (PDF) (bell-shaped curve movement), but that by normalizing price and applying the Fisher Transform you could create a nearly Gaussian PDF”.   Below is a chart with the Fisher Transform applied to it. You can clearly see how the turns are decisive which makes it easier to declare a crossover has been completed. With some other indicators it is often quite difficult to see when the signal lines have crossed.     As you see, the crossover signal within the current up trend is often near the zero line but most importantly a crossover occurs within 4 or so bars of the lows. This makes it a lovely indicator for those who like to jump on a trend early. This allows you to keep your stops close by.   As mentioned in other articles on the Fisher group of indicators it is definitely on my top list of indicators to use if you want to trade using chart based indicators.

Posted by dionnabown

The darvas forex indicator for MetaTrader 4 is a trading strategy that was designed in 1956 by Nicolas Darvas, an Ex-ballroom dancer.   His trading ideology is simple, just buy into stocks that are trading at new peaks. This idea can be extrapolated to any other financial asset i.e. commodities, currencies, etc.   A Darvas box is formed when the price of a currency pair surges past the previous high but dips back to a price level not far from that peak.   The idea behind the Darvas box is basically a momentum strategy.   Example Chart     The darvas indicator deploys technical analysis and momentum model to define when to initiate or exit a trade, and it also deploys fundamental analysis to define the asset to buy or sell.   This implies that the Darvas box aids traders decide price to initiate or exit a trade. It is usually a signal of a break when price breaks outside of the Darvas box.   The Darvas theory is designed to look for signs that a currency is ready to make a strong move.   The probability of a big move is depicted by a momentous volume increase. Once a rare volume increase is spotted a narrow price range Darvas box is created.   The floor of the box represents the asset low, while the ceiling of the box represents the asset’s high.   A trader is expected to enter a buy when price breaks through the ceiling of the box, while a sell is initiated when price breaks below the floor of the Darvas box.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart pattern indicator Customization options: Variable (), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: trend, momentum

Posted by veronicaslack

This renko chart trading system has become quite a topic of conversation across the internet. Spinoff threads have been created by many who didn’t like the original systems and time frames and wanted to trade the system in slight different ways.   Nitro Scalping used a very basic chart although, many have simplified it further by removing some of the indicators.   “Nitro Scalping is a trading strategy using RENKO bars instead of candles (although some still use candles).We try to stay focused on PA (price action) instead of relying on indicators, which nearly always lag price. Our goal is to trade pure PA capturing 3-10 pips per trade.”  How To Trade Nitro This system uses renko bars to display price. Some recommend buying a commercial version of the renko charts but we have several renko chart indicators you can try and see if you can get it to work with them. Also if you are going to try this renko trading system in ninjatrader it has it’s own, pretty solid, renko indicator.   The system suggests that you open 4 charts of these pairs: EY, GY, AY and either NZD/Y or CAD/Y and then during specific trading times you watch for CORRELATION in price movement between the 4 pair. USD/JPY can also be watched, but is normally not traded.   We are looking for all 4 pairs to be moving in sync. When this correlation is spotted (and it occurs at least once during every trading session) you can take your trade in all pairs or just focus on one or two. Your choice.   The Indicators, All indicators for this system (apart from the renko bars which can be found on the renko pages) can be downloaded from one file here Nitro: Renko Trading System.   -Use the sm trix-colored candles (smC4scalperCandles) to color the renko bars, settings 2,1,1,1, indicator attached below.-DX Trade wrote a neat ‘dashboard’ which some use.-A HMA color line is used as moving average, settings are 8,3,3 or 10,3,3. Some use other settings or you can use the MA in Color with Applied Price.-Momentum indicator set to 4 is a standard MT4 indicators.-A Trix indicator is also used but it is built into the dashboard & into the candles.-Nitro arrow indicator based on momentum that many find useful   It is suggested that you will “learn fastest from the charts posted” on the various trading boards and specifically forexfactory.   Once “CORRELATION” is noted, we are looking for a ‘primer’ which could be trix-colored candles changing color, then a ‘trigger’ which could be the moving average cross.   The rules are not set in stone as people find their own favorite primers and triggers.   The object, once again, is to learn how to ‘see’ from PA alone where price is going next and then to capture only a fraction of that move.   Studying the charts posted in this thread is the best way to learn how to do this successfully.   Best Hours to Trade: just before & during major market opens, i.e. Tokyo-London open or London-US Open. Renko bars can be traded anytime but best PA is during those overlap times.   “Some traders just wait for correlation, then pick the strongest pair and put a 5 lot trade on that one. 5 pips profit x 5 lots = 25 pips. They are done for the day   This is not a strategy to become a mega-millionaire, just to make a comfortable full time living trading Forex. 25 pips a day trading full lots is $250 per day, 50 pips (two 5 lot trades in the example above) is $500 per day. Most can survive on that.”   The method is 25% mechanical .. 75% emotion. So they say. Which is one of the problems with this renko ystem. It still is discretionary trading rather than mechanical.   Then only other issue with this renko trading system is the risk to reward ratio. They a scalping a few small points here or there but risking up to 20 points with their stops. Granted it does seem to have a great strike rate but I feel you are always fighting a losing battle when the numbers aren’t in your favour. Although I am sure there will always be someone who is good enough to pick 95% winning trades I think the rest of us may not be so luck.   However, there are some good ideas behind the concpet that you can take away with you and if you read the forums about this renko trading system you will soon see which indicators have been dropped, which are considered important, which are the best trades to take.

The oT_S_Ra-Signal_Line indicator for MetaTrader4 and was initially created by Allan Hull. The oT_S_Ra-Signal_Line indicator is essentially the Hull Moving Average or the HMA and it is used in spotting current market trend.   The curve of the oT_S_Ra-Signal_Line indicator is significantly smoother. The oT_S_Ra-Signal_Line is built to follow the price activity much closer.   Traders use this indicator for long- and medium- term trading.   Usually, when more days are added to moving averages they tend to get more lag, and the oT_S_Ra-Signal_Line indicator was able to resolve this by adding more weight to the moving average.   Example Chart     The oT_S_Ra-Signal_Line indicator can be deplored just like the Aroon and ADX indicator, in a manner that allows it spot dominant trend.   When the curve of the oT_S_Ra-Signal_Line is surging, the dominant trend is surging as well, while when the curve of the oT_S_Ra-Signal_Line is dipping, the dominant trend is also dropping as well.   There’s also a color notification that alerts traders to buy when the line changes to line and sell when the line changes to red.   The man behind this indicator advises the oT_S_Ra-Signal_Line crossings should be avoided.   The ability for the oT_S_Ra-Signal_Line indicator to overshoot current prices can also be perceived as a weakness, something traders needs to be wary of. In respect to its timely nature, the oT_S_Ra-Signal_Line indicator is very resources when spotting turning points designated for entries and exit.   The equation for the Hull moving average is shown below: Integer (Square Root (Period)) WMA [2 x Integer (Period/2) WMA (Price) – Period WMA (Price)]   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart pattern indicator Customization options: Variable (period, method, price), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: trend, momentum

Posted by tommiepatrick

The Disparity Index forex indicator for MetaTrader 4 is a technical momentum that links market price to a time-specific moving average of the prices in the market.   Chartists tend to use the disparity index as a tool to spot signals of trend strength and the likelihood of an impending exhaustion.   Other traders and analysts deploy the Disparity Index as a tool for defining oversold and overbought regions for a particular asset.   An asset is said to be overbought when the index yields a value that is greater than or equal to the upper bound level, and it is said to be oversold when the index returns a value that is lower than the lower bound level.   Example Chart     The Disparity Index indicator is based on the correlation between a current trading price and its most recent closing price.   Just like other momentum indicators, the Disparity_Index indicator is most suited when used along with other tools when a trader is trying to spot possible reversals or confirm a trend.   The price of a currency pair may spike or drop quickly within minutes, if not seconds. The Disparity_Index indicator is designed to gauge just what is tagged too severe of a spike or drop, offering simplicity in a condition that might otherwise be perceived as random.   This trading indicator assumes that prices are sensitive to obsessive sessions of buying or selling, even within a trend.   The Disparity_Index indictor can be used to sort for continuation pattern during short term or a total reversal in trend in the long term.   MT4 Indicator Characteristics Currency pairs: Any Platform: Metatrader 4 Type: chart window indicator Customization options: Variable (DispPeriod), Colors, width & Style. Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month Type: momentum oscillator

Posted by jimbodean

If you do a google search you will often see the question “what is the best forex indicator” there is? In my mind its quite simple to answer.   For me the forex pairs are trending markets, although the price action within that trend could be quite choppy. This, in my opinion, is where the opportunity to trade is.   Below is a 4 hour GDP/USD chart with what I consider probably one of the best trending indicator sand thus the best forex indicator; the heiken ashi indicator.     This indicator has be discussed before in this TTM Trend article but you can clearly see why its such a great indicator on trending markets.   This heiken ashi indicator was set to MA method (3) and MA period (12). I also put on a hull moving average and stochastic just to show how you can build a system around this forex indicator.   There are many ways to trade this. Take blue single trades when above the hull ma. Or you could wait for a retrace to the Hull Ma in order to buy/sell in the direction of the heiken ashi indicator. Or you could just trade the changes between red and blue on the forex heiken ashi indicator. But as a stand alone forex indicator I think the heiken ash indicator can not be beaten in my opinion.   If you have a better forex indicator you would like to discuss please leave a comment.

The colored laquerre indicator is one of the best trading oscillators ever developed for the Metatrader 5 platform.   For best trading results, use this indicator in agreement with the overall trend. See the rules below.   Trading Rules Buy signal: the indicator crosses back above 0.15 level from below. Sell signal: the indicator crosses back below 0.85 level from above.   Note: look for buy signals in an up trend and avoid sell signals, similarly, look for sell signals in an downtrend and avoid buy signals.   Example: EUR/USD 1 Hour Chart     Characteristics  Type: trading oscillator Currency pairs: any Timeframe: any Platform: Metatrader 5 Customizable settings: gamma, high level, mid level, low level

Here’s an accurate trading oscillator for the MT5 trading platform, it’s called Laguerre. The indicator swings back and forth between 0.0 and 1.10 levels. Look for buy signals at 0.15 and sell signals at 0.75.   Trading Rules Buy signal: in an up trend, buy a currency pair when the laguerre oscillator turns back above 0.15 from below (buy on dips). Sell signal: in an downtrend, sell a currency pair when the laguerre oscillator turns back below 0.75 from above (sell on rallies).   Example: EUR/USD 30 Minute Chart     Characteristics  Type: trading oscillator Currency pairs: any Timeframe: any Platform: Metatrader 5 Customizable settings: gamma, colors

Posted by robertplows

The ATR trailing stop is based on, obviously, the AVERAGE TRUE RANGE. “The Average True Range indicator is a moving average of the true range for a set number of periods.”   So for a trailing stop one might use a multiple of the current ATR. If the ATR is, say, 10 points. A stop could be placed at 2 times the ATR which would be obviously 20pts away from the current price.   It’s a very simple concept and seems to be one of the most popular stop methods when it comes to using indicators.   Below is a metatrader chart with the ATR Stop as an example. However, Ninjatrader has an ATR Stop script as well.     As you can see it is very good as preventing you from going into a loss with you position but it also allows a bit of room on pull backs. Which it a hard balance to find in a stop method, especially and indicator.   Below are a couple of ATR Stop indicators we have on the site. There are a few more if you want to search the download sections for metatrader and ninjatrader indicators.