TrendPadPRO MT4
- Indicators
- Andrei Vasilescu
- Version: 3.20
- Updated: 8 August 2023
- Activations: 10
I. TrendPadPRO - Unveiling the Context of Informed Trend Trading
The Context of Trend Trading is far more relevant and important than indicators, timeframes, personal perspectives or beliefs.
TrendPadPRO's unique features, including trend inertia (age) analysis, trend direction identification, and precise S/R levels, bring the knowledge of the Context of Trend Trading needed to make decisions in real time.
II. Usability of TrendPadPRO
TrendPadPRO is a trading tool designed to cater to traders of all experience levels.
Its intuitive interface allows traders to find the various indicators, including trend inertia (age), trend direction, and critical support / resistance (S/R) levels for different timeframes.
By consolidating these real time data points, TrendPadPRO provides a comprehensive outlook on market trends and highlights potential entry and exit points.
III. Riding the Momentum: Inertia (Age) and Strong Trends
One of the standout features of TrendPadPRO is its ability to identify and measure trend inertia (age).
Inertia (Age) is the driving force behind strong trends (sustained price movements).
When a trend reverses on a timeframe, the Inertia (Age) have a minimum value of 2 and increases with each closed candle while trend's S/R level is not broken on this timeframe.
IV. The Trend's Direction: The Key to Tracking a Trend
TrendPadPRO leaves no room for guesswork when it comes to trend direction.
Its precise algorithm quickly identifies whether the market trend is upward or downward, enabling traders to follow the trend's direction in real time.
V. Unlocking Opportunities: Trend S/R Levels
At the heart of any trading strategy lies the ability to pinpoint significant support and resistance levels.
TrendPadPRO furnishes traders with real-time S/R levels for various timeframes.
These levels act as crucial indicators for entry and exit points, guiding traders towards dynamic risk/reward ratios.
VI. Balancing Risk and Reward: Stop Loss and Take Profit
TrendPadPRO empowers traders to strike the delicate balance between potential gains and acceptable risk levels.
With a clear focus on preserving capital, the appropriate Stop Loss levels must be beyond relevant S/R levels (no any trade if no any appropriate StopLoss).
TrendPadPRO assists in setting reasonable Take Profit levels. Traders can aim for the higher Trend S/R levels or opt for a multiple of 13.7 pips (scalping territory), towards a dynamic risk/reward ratio.
VII. Position Sizing: A Calculated Approach
TrendPadPRO emphasizes prudent position sizing, enabling traders to limit their risk exposure to a maximum of 1-2% per trade.
VIII. GUI features
| Titlebar | Daily movement » Current BID » TF candle time left |
| Headers | Chart Symbol » Chart TimeFrames |
| Age | Numbers of candles for current trend |
| Trend | Up or Down |
| Trend S/R | Trend Support/Resistance's current levels |
IX. Settings
| Currency Index | Any Major Currency Index or No Currency Index |
| Scanner Symbol | Any Symbol or Empty for current chart Symbol |
| Index Pair Prefix | Major Currency Pair Prefix or Empty if none |
| Index Pair Suffix | Major Currency Pair Suffix or Empty if none |
| History Bars | Maximum number of bars used for history |
| Trend Pad section | GUI color picker |
| Trend Lines section | Trend Lines color picker for current chart Symbol |
| Major Currency Index section | Current Currency Index components |
| Constant Factor | Constant Factor of Current Currency Index |
| Weighting | Weighting of Current Currency Index components |
| Alerts Parameters | Enable the alert options |
