Katana MT4

🔹Katana is a follow the trend indicator that sends you buy & alert signals. There is several possibilities on how you can use it.

• 1st Possibility: When market goes above middle line, it's a buy signal. When market goes below middle line, it's a sell signal. You can use it everyday for your manual trading. 

• 2nd Possibility: Wait for a new trend to appear. If market is up, wait for the market to touch the middle line and reverse on the other side.

• 3rd Possibility: Trade with the current bar color. If it's blue, go long. If it's red, go short. This is good if you're looking to hold trades for seconds/minutes.

➡ Indicator works on all timeframes. Our recommended timeframe is: M5, M15 & H1.

➡ It works on all forex pairs, indices, metals & crypto.

➡ Take Profit & Stop Loss intelligence:

• Option 1 - You can use our extra parameter of Fibonacci to place your Take Profit & Stop Loss levels. 
• Option 2 - exit your buy position on a new sell signal and exit your sell position on a new buy signal

💡How to enable alerts on your MetaTrader 4 phone app?

✅ Parameters Explanation

• ATR Period: The average true range period.
• Show MidLine: Show the median price line.
• Signal Based On MidLine: If set to true, there will be a signal as soon as there is a reversal (new possible trend).
• Show Fibonacci Levels: Turn it on if you need to entry your TP & SL levels based on Fibonacci.
• Midline length: The higher the number, the more accurate with less signals. The lower the number, the less accurate with frequent signals. 
• Show Fibonacci Levels: This can be used to set up to your take profits and stop losses. 
• Max bars: The indicator will check for the last 1000 bars and provide the past signals.