Best Reversal indicator
- Индикаторы
- Tjammal Hussain
- Версия: 2.2
- Обновлено: 5 июля 2023
- Активации: 5
Title: Best Reversal Indicator - A Custom MQL4 Indicator for Trend Reversals
Description:
The "Best Reversal Indicator" is a custom MetaQuotes Language 4 (MQL4) indicator designed to identify potential trend reversals in financial markets. This indicator is intended to be used on MetaTrader 4 (MT4) trading platforms.
Key Features:
- Non Repaint: Best Reversal Indicator is a non repaint indicator means It does not remove its signal after moving forward.
- Trend Reversal Detection: The indicator scans the historical price data and looks for potential trend reversals in the market based on specific criteria.
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Dual Arrow Signals: The indicator displays dual arrow signals on the price chart to indicate potential trend reversal points. A blue arrow appears to suggest a bullish reversal, while a red arrow signifies a bearish reversal.
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Customizable Parameters: Traders can customize various parameters to tailor the indicator's sensitivity and behavior according to their trading preferences. Some of the customizable parameters include the number of candles checked, time range for reversal scanning, and candle size.
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Real-Time Notifications: Traders receive real-time notifications via the MT4 platform when a potential trend reversal signal is generated. The indicator sends alerts and notifications to traders for quick and timely decision-making.
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User-Friendly Interface: The indicator provides a user-friendly interface to visualize the number of candles checked, total buy and sell signals detected and other essential information.
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Total Candles Checked: The number of candles to be checked for signals. Adjust this parameter to define the depth of historical data analyzed.
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From Hour: The starting hour for checking signals. Modify this parameter to specify the beginning of the time range during which signals will be considered.
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To Hour: The ending hour for checking signals. Adjust this parameter to define the end of the time range during which signals will be considered.
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Candle Size: The minimum size of a candle for generating signals. Use this parameter to define the minimum difference in price range in points required for a candle to be considered as a signal.
How to Open trade on this indicator:
- Trade Open: Place pending order 3 to 5 pip below the arrow bar for sell and for buy 3 to 5 pip above the arrow bar
- Trade Stoploss: Place stoploss 3 to 5 pip above the High of arrow bar for sell and 3 to 5 pip below the low of arrow bar for buy
- Trade Tp: Tp is your choice my suggestion is 1 by 2 or 1 by 3
Usage: Traders can use the "Best Reversal Indicator" to identify potential trend reversals and market turning points. When a blue arrow appears, it indicates a potential bullish reversal, suggesting a buy signal. On the other hand, a red arrow signifies a potential bearish reversal, indicating a sell signal.
To use the indicator effectively, traders can adjust the customizable parameters according to their trading strategies and timeframes. The indicator's ability to send real-time alerts and notifications makes it convenient for traders to respond promptly to potential trade opportunities.
Disclaimer: The "Best Reversal Indicator" is for informational purposes only and should not be considered as financial advice or a guarantee of profitable trading. Trading in financial markets involves risk, and traders should exercise caution and perform their analysis before making any trading decisions. Always use proper risk management strategies and consider multiple factors before entering or exiting trades. The indicator's past performance does not guarantee future results.
Copyright: The "Best Reversal Indicator" is copyrighted by MetaQuotes Software Corp. and is available on the MQL5 website (https://www.mql5.com). Any redistribution, modification, or commercial use of this indicator without the consent of MetaQuotes Software Corp. is strictly prohibited.
