Chances MT4
- Indikatoren
- Ahmed Alaaeldin Abdulrahman Ahmed Elherzawi
- Version: 1.1
- Aktualisiert: 28 Februar 2022
The Investment Castle Chances indicator will show signals on the chart for entering a buy or sell trade. There are 2 types of signals for each direction as follows:
- Buy / Sell (Orange colored candlesticks)
- Strong Buy (Green colored candlesticks) / Strong Sell (Red colored candlesticks)
You may place a buy trade once you see the Buy arrow or vise versa, or you might prefer to wait for a further confirmation “Strong Buy” / “Strong Sell”. This indicator works best with the high time frames H1, H4, D, W.
However, at reversals, it is best to see the lower time frames for a confirmation on the turning point.
Example:
You load the indicator on NZDUSD on D1 time frame with the Supply and Demand or Support and Resistance indicator. You will see a support below the current price level.
Load the indicators on H1 chart and observe a pullback at strong support, from there you could catch the long trend earlier.
Now, we can clearly see the Price Action and Trend Analysis automatically on the chart. The Price has retested the resistance and it is expected to fall to the next support level.
Settings:
I tried my best to reduce the number of inputs to the minimum possible. Therefore, you will see that most of the inputs are for colors. However, I found the best settings as set the defaults, so you simply install the indicator and you are good to go.
Excellent...will help you avoid buying when in a downtrend and selling in an uptrend.....also great at spotting reversals.....Do note that ultimately Price Action is king and use this indicator as a confirmation or confluence. Analyse the larger trend before entering...do identify the larger supply and demand areas first and take trades in and around those areas for greater success.....Trade Supply/Demand not support resistance and there are higher chances of winning....
Update 1: I had 6 winnning trades thanks to this indicator yesterday, I do have to emphasize that you will have to use the Chances indicator with Investment Castle Demand and Supply and also Investment Castle Support and Resistance. I did turn off the color candles of the Support/Resistance indicator as it was conflicting with the Chances indicator. I have to say the developer did a great job with this indicator. You will not always have winning trades but if your wins are greater than your losses, you will come out on top. Also please do learn Price Action, the chart will tell you what it intends to do, you need patience (a lot of it) and understand market structure. If you don't respect the market, it will kick you out and you will blow your account.