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Trend Signal Arrows: Master Your Buying and Selling
trend signal shows you arrows when to buy and sell.
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guyha04 wrote:
trend signal shows you arrows when to buy and sell.
Thanks a lot for your sharing, I will download and try it.
About Trend Signal EA
https://mt4talk.com/viewtopic.php?pid=29221#p29221
The EA uses a combination of technical indicators to identify potential buy and sell signals. This EA focuses on market momentum and the PercentR indicator to determine entry points.
The EA calculates the True Range and Average Range of the past 10 bars to gauge market volatility.
It checks for potential trend reversals using the PercentR indicator with an adjustable period (default is 9).
Based on the PercentR values and market conditions, the EA places buy or sell signals.
If the PercentR value is below a user-defined threshold (x2), it looks for opportunities to buy when the PercentR value crosses above x1.
If the PercentR value is above x1, it searches for opportunities to sell when the PercentR value crosses below x2.
Adjustable parameters:
RISK: The RISK parameter allows you to adjust the risk factor associated with your trades. It determines the level of risk you are willing to take for each trade. A higher RISK value increases the risk, while a lower value reduces it.
Default Value: 3
You can typically set RISK between 1 and 5, depending on your risk tolerance. Lower values result in less risk per trade, while higher values involve more risk.
CountBars: The CountBars parameter lets you specify the number of bars that the EA considers for its analysis. It determines the amount of historical price data the EA uses to make trading decisions. More bars include more historical data, while fewer bars focus on recent price action.
Default Value: 300
You can adjust CountBars based on your trading strategy. For short-term strategies, you might use a smaller value (e.g., 100), while longer-term strategies may benefit from a larger value (e.g., 500).
These adjustable parameters provide you with the flexibility to customize the EA's behavior according to your risk appetite and trading preferences. Remember to carefully consider the impact of parameter changes on your trading strategy and risk management.
This EA can be particularly effective in a trending market, where it aims to identify potential reversals in price direction. The EUR/USD pair on a 1-hour time frame with a minimal balance of $1,000 is suggested as it provides a balance between liquidity and manageable risk.
Remember that successful trading also depends on risk management, so be sure to monitor your positions and set appropriate stop-loss and take-profit levels to protect your capital.
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