This indicator appears to be a comprehensive tool designed to enhance trading strategies by focusing on trend identification while minimizing the impact of market noise. Here’s a breakdown of its main features:
No redrawing of entry signals
When signal arrows are placed on charts that never redraw or disappear.
No errors when arrows appear and alert notifications
No errors ever when arrows appear and notifications to all instruments in MT4
Original price 199usd
- Advanced Trend Detection: Utilizes sophisticated algorithms to detect trends effectively, potentially serving as both a supportive tool and a standalone system.
- Whipsaw and Noise Avoidance: Provides a unique trend detection mechanism that filters out whipsaws and uncertain market noise, offering more reliable trend signals.
- Target Analysis: Examines maximum profit statistics and calculates potential targets for upcoming signals, aiding in setting profit-taking levels.
- Flexible Tool for Enhancements: Offers versatility, supporting various trading systems as an additional filter, entry point indicator, and suggesting exit strategies.
- Trend Filtering Parameters:
- Period Settings: Utilizes different period settings for trend filtering (4 to 10 for trend filter, 2 to 3 for entry points).
- Exit Strategies:
- Discretionary: Leaves the exit decision to the trader’s discretion, allowing flexibility according to individual strategies.
- Support/Resistance Signals: Incorporates reversal signals from price action patterns and statistical data to guide exits.
- Partial Trade Closure: Provides options to partially close trades based on reaching specific profit levels.
- Multi-Timeframe Functionality: Aligns signals across multiple timeframes, ensuring consistency in trend directions between different timeframes.
- Color Schemes and Technical Properties:
- Color Variations: Designed for both light and dark charts, enhancing visibility.
- Technical Stability: Assures no repainting, backpainting, or recalculating of signals, ensuring reliability.
- Signal Generation: Strictly generates signals based on the close of the bar, enhancing accuracy.
- Compatibility with Expert Advisors: Allows integration into Expert Advisor development, potentially enabling automated trading based on its signals.
Overall, this indicator seems to provide a range of functionalities designed to strengthen trading strategies by focusing on trend identification, reducing market noise, and supporting various entry and exit approaches.
What is a trend indicator for MT4
The Supertrend indicator is indeed straightforward, utilizing a single line to showcase the prevailing trend direction. Here’s a more comprehensive look at reading the Supertrend indicator:
- Trend Identification: The Supertrend line on the chart indicates the current trend direction. When the price bars/candles are above the Supertrend line, it suggests an uptrend. Conversely, when the price bars are below the Supertrend line, it indicates a downtrend.
- Trend Reversals: Switches in the Supertrend line’s position relative to the price can signify potential trend reversals. For instance, if the Supertrend line changes from below to above the price bars, it could indicate a potential shift from a downtrend to an uptrend, and vice versa.
- Support and Resistance: In addition to identifying trends, the Supertrend line can sometimes act as dynamic support or resistance. When the price approaches the Supertrend line, it might experience a bounce or stall, akin to a moving average acting as a support or resistance level.
- Parameter Adjustment: Traders can adjust the settings of the Supertrend indicator to suit different market conditions or trading preferences. Tweaking the period and multiplier can affect the sensitivity of the indicator to price movements.