TradeCompass10
- Indicators
- Mykola Masalov
- Version: 1.0
- Activations: 5
| When you purchase an indicator, contact me for a price highlighting indicator from me -Heir Wolf TF. |
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This is a very interesting indicator and I am giving it as a bonus!
This indicator alone can take your entire trading to the next level. Video on the indicator here
And together with the Trade Compass10 indicator, this will become your main trading system, and you will be several steps ahead of other traders.
Trade Compass10 is an extremely simple and understandable indicator for a trader of any level.
The indicator analyzes the price of an asset using two formulas, determining a positive or negative delta on each bar.
Trade Compass10 converts the resulting result into a sequential price series with a positive or negative sign, a positive delta - the asset price is inclined to rise, a negative delta - to fall.
For ease of visual perception, the indicator displays its results on a chart in the form of a “price cloud”.
The color of the cloud indicates the prevailing price mood: red (gray) - bearish mood, green (bright green) - bullish mood.
On the chart you can see two price clouds, this is the cloud of the current timeframe and the cloud of the higher timeframe.
The display of a higher timeframe on the cloud chart can be disabled.
The “High TF” variable is responsible for displaying the cloud of a higher timeframe (See below for a description of the indicator settings).
The indicator has 3 algorithms for determining market entry points.
In other words, the indicator shows three types of signals:
1. Signal 01 - basic signal to buy or sell from the price cloud of the current timeframe;
2. Signal 02 - buy or sell signal is formed from the cloud of the current timeframe with confirmation of the cloud of the senior timeframe;
3. Signal 03 - counter-trend signal. The signal works well during a sideways or consolidation of the market, but it is better not to trade it during a trend.
Signal 03 is considered a counter-trend signal since it is formed against existing price clouds: with two bearish clouds a bullish signal can be shown and with two bullish clouds a bearish signal can be shown (yellow arrows).
But this will not necessarily be the case, because several other factors are taken into account besides price clouds.
Each of the above signals can be disabled in the indicator settings, leaving only those signals that you want to trade.
The display of the cloud of a higher timeframe can also be turned off, then on the price chart there will only be a cloud of the current timeframe with its base signal.
Good results are obtained by trading using the signals of the Trade Compass10 indicator together with the signals of the Heir Wolf TF backlight indicator.
In this case, you can disable the higher timeframe cloud in the Trade Compass10 indicator.
Trade Compass10 indicator settings:
Signal 01 – enable/disable display of the signal on the chart (base signal)
Signal 02 - enable/disable display of the signal on the chart. This signal can be shown on the chart only when the higher timeframe cloud is enabled, when the High TF variable >0
Signal 03 - enable/disable display of the signal on the chart (countertrend signal). Works at High TF >0
Filter Signals 03 – enable filter for signal 3
Period – period of the current timeframe for displaying the price cloud. The higher the value, the less sensitive the indicator is to price fluctuations.
The Period variable operates in the range of values from 5 to 25
High TF – select a higher TF (time frame). By default, the cloud of an older TF goes one step higher than the current TF.
For example: if the chart window is open on TF M5, then the cloud of the older TF will be shown with TF M15.
If you switch the current window to TF M15, then the cloud of the older TF will be shown from TF M30.
If you set the value of this variable to 2, then the cloud of the older TF will be shifted one TF higher (by two steps)
Max Count – depth of history that the indicator covers.
Arrow Shift – indentation of the arrow from the bar
Show Alert – notification in the terminal about a new signal
Send Mail – message to your mailbox about a new signal
Send Push – a message to the phone about a new signal
Recommended values of the High TF variable relative to the timeframe of the open window.
| Window open on timeframe | High TF value |
| M1 | M5 |
| M5 | M15, M30 |
| M15 | H1 |
| M30 | H4 |
| H1 | H4 |
| H4 | D1 |
| D1 | W1 |
Very Good Indicator And Its Non Repaint