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UTBot with HTS filter

Advanced UT Bot & HTS Indicator

This indicator is an advanced technical analysis tool that combines two methods: UT Bot and HTS (Higher Timeframe Smoothing), to generate accurate buy and sell signals.

1. Indicator Structure

  • Works within the main chart window and utilizes 11 buffers to store various data points, including arrows (buy/sell signals) and bands from both UT Bot and HTS systems.
  • Uses colored arrows to represent different trading conditions:
    • Blue arrows: Normal buy signals.
    • Red arrows: Normal sell signals.
    • Gray arrows: Opposing signals (conflicting with the trend).
    • Yellow arrows: Band crossing signals, indicating possible consolidation or transition phases.

2. Core Logic

  • UT Bot: Utilizes ATR (Average True Range) to calculate trailing stops and generate buy/sell signals based on price crossovers. This helps identify emerging trends.
  • HTS (Higher Timeframe Smoothing): Calculates fast and slow EMA (Exponential Moving Average) bands for both high and low prices:
    • Fast Upper/Lower Bands: Reflect short-term trends.
    • Slow Upper/Lower Bands: Represent long-term trends.
  • The relationship between these bands helps traders detect market trends and spot potential entry/exit points.

3. Advantages

  • Clear Visual Signals: The use of colored arrows makes it easy to interpret buy/sell signals based on UT Bot and HTS systems.
  • Yellow Arrows warn of band crossings, signaling possible trend reversals or consolidations.
  • Gray Arrows indicate conflicting signals, helping traders avoid false signals in uncertain market conditions.
  • Comprehensive Trend Analysis: The combination of short-term (fast EMA) and long-term (slow EMA) trend analysis provides a well-rounded view of the market.
  • Customizable: Key parameters like EMA periods and ATR multipliers can be adjusted to fit various trading strategies and timeframes.
  • Dual Trend Detection: The combination of UT Bot and HTS improves trend detection accuracy, reducing false signals and enhancing trading decisions.

In summary, this indicator offers a multi-layered approach to trend identification and signal generation, providing clear visual cues and customizable parameters for optimized trading decisions.

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Entry Pro Indicator is a powerful multi-functional trading tool designed to increase your market entry accuracy. It combines the power of several key market trend indicators, including ATR Trailing Stop and both fast and slow EMA, to provide comprehensive market insight. It offers easy-to-interpret market entry signals represented by colored arrows. Also, it's fully customizable, allowing you to adjust ATR and EMA periods to suit your trading strategy. Trend filters and alerts can be toggled on
Make Sure to Read the Description! UT Bot Plus contains free EA! The EA can be downloaded from telegram channel:  https://t.me/ +NSOJTvH39fNhZmU0 Unlock the Power of Automated Trading with UT BOT Indicator, Integrated with a FREE EA! ( Limited time offer ) This version has been expanded to include multiple additional filtering options. These options are fully configurable and can be switched on and off. This versatile UT BOT indicator is crafted and optimized to work seamlessly with the
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Version 1.1 2024.09.06
English version