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Breakout Candle

This indicator is based the principle of breakout candle. Every candle that breaks out from the cluster may not lead to a rally. There are various factors that determine how a breakout candle will behave. This indicator calculates all those factors to suggest BUY/SELL signal once a breakout happens. This is a universal indicator that can work for all kind of instruments eg stock, currency, oil, crypto etc. This also works in every timeframe.

PARAMETERS

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move = 20

strongCandle = 70

rangeCandle = 15

rangeRange = 1

maxSLPercent = 1.5

numberOfCongestionCandles = 12

numberOfCandlesForExit = 4

buyClr = clrGreen

sellClr = clrRed

lowProbTradeClr = clrBlue

considerTrueRange = true

ignoreLowProbableTrades = true

topLevelFilter = true

noFollowupExit = false

showInnerZones = false

drawCogestionZones = true

referPriceactionRange = true

showSignificantCandles = false

sendAlert = true

checkCandleStrength = false

exitAtOppBreakCandle = false


You can try different inputs as per your trading plan and see what suits best but for default, above parameter values will suffice most of the trading conditions and instruments.

How To Trade

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Whenever an alert comes for trade go ahead with the trade. If the alert mentions, it's a low probable trade you can still go ahead with the trade albeit with low volume or based on your risk apetite.

P.S - The SL it will give is for reference only. You may put the actual SL a good 10 pips below or above it depending on the trade type. Exit the trade when it tells you to exit or an opposite trade signal comes. This will also guide you to trail your SL.


Please do message me once you purchase the indicator. I will share the complete know how of the indicator usage and what different colour signal arrows means.

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Trade smarter, not harder: Empower your trading with Harmonacci Patterns Special Offer: Purchase now to receive free bonuses worth $165! (Read more for details) This is arguably the most complete harmonic price formation auto-recognition indicator you can find for the MetaTrader Platform. It detects 19 different patterns, takes fibonacci projections as seriously as you do, displays the Potential Reversal Zone (PRZ) and finds suitable stop-loss and take-profit levels. [ Installation Guide | Upda
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Weis Wave Indicator
Dhabaleswar Prasad Jena
This indicator is based on the Weis wave principle of wave volume. Below are few features of the indicator It draws the wave on the chart while the accumulated volume per wave in a different window at the bottom of the chart You can configure the turning point move It displays the accumulated volume (in thousands, eg for 15000 volume it will show 15) at the end of each wave You can also configure to show number of candles in the wave along with the wave volume The indicator calculates the distin
Please follow the "How To Trade" instructions exactly for best results Wycoff theory is vastly used by institutional traders but when it comes to retail traders the concept isn't well understood by most. It is even more difficult to implement in intraday & swing trading. This No REPAINT indicator helps you in analyzing the market cycles and plots buy/sell signals at the start of trending phase. It studies the market strength of bulls and bears and does a effort Vs reward matrix calculation befor
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