Market / MetaTrader 4 / Indicators /

FxSProMT

FREE

Published: 30 March 2016

Current version: 1.30

FxSProMT

Indicators
Sergiy Podolyak
Version: 1.30
Updated: 21 November 2021

The FxSProMT indicator shows the current market trend and trend change.

Indicator Parameters

Ind_Period - the number of previous bars used to calculate actual values.
Number_Bars - the number of bars to display the indicator.. Too many bars may significantly slow down the operation of the trading terminal.
Signal_Sound - sound alert to notify of trend change. The sound can be played multiple times until the signal is confirmed (the bar closes). Default is disabled.
Signal_Alert - an alert to notify of trend change.
ShowCommen - show data window.
X_coord - the X coordinate of the data window.
Y_coord - the Y coordinate of the data window.

The trend direction id displayed by corresponding arrows on the symbol chart:

Green arrow - uptrend.
Red arrow - downtrend.

Data window (white):

Symbol AUDUSD - trading symbol.
Price 0.74361 - symbol price.
SpeedTick 0.0 (0.00 / 0.00) - the rate of price change: current ( max / average ). The values will appear after a certain time since the indicator start. SpeedTick - if the rate of price change is above 3.0, there is a price movement (not true for 4-digit quotes).
Spread 1.2 (1.2 / 1.2) - spread value: current (min / max).

Trading Rules

Timeframe - H1 (main).
Currency pairs - any.
Entry to BUY - the indicator arrow must be green.
Entry to SELL - the indicator arrow must be red.

Recommended values: TakeProfit = 20 pips, StopLoss = 20 pips (for Н1). Upon reaching a profit of 10 pips, we close half of the position. In this case StopLoss should be moved to one of the levels:

1 - StopLoss is moved иy the value of obtained profit.
2 - StopLoss is moved to the position open price + 1 pip.

In any case, the remaining position is set to breakeven. The order lot must be at least twice as large as the minimum lot allowed by your broker.

The FxSProMT is used as the basic indicator. Also you can use an additional indicator to confirm signals (filter out false signals). To filter false signals, it is recommended to use th FxSPro-WPR indicators.

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