Keep It Simple and Trade With the Trend
You must all have heard the saying "trade with the trend" and KISS rule - "keep it simple stupid", well this indicator can assist you in identifying when a new trend starts or ends with a simple visual overlay on the chart in the form of bullish or bearish dots as well as instant alert messages.
How Can I Use This for Trading?
This indicator can be an addition to your other favourite indicators or used on its own to identify when a trend cycle is changing and to open a new position, an audible alert of your choice as well as a message on the screen will tell you to Buy or Sell.
How To Find Out The Change In The Trend
When the trend changes direction you will see the dots change colour, in the example above green is for a bullish trend and red for a bearish trend, the adjustable parameter called "Confirmation dots" will allow you to wait a number of same colour dots before showing a signal or sending an alert. An example would be to set it to 4 dots, so when 4 green dots are formed a solid direction reversal has taken place.
Please note that the indicator will not signal a bullish trend if the price is below the dot when the candle closes and above the dot for a bearish signal.
What Kind of Alerts Are There?
The alerts are a pop-up message on the screen, an audible sound which you can configure yourself, an email message and a free instant telegram message.
Install the Telegram App on your mobile phone and receive free instant messages, you no longer need to pay using an SMS service.
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Configurable Parameters Explained
Your adjustable parameters are shown below with explanations of the less obvious ones.
- Period #1: This is used in a formula to calculate the single MA dot, adjust to get best results
- Period #2: This is used in a formula to calculate the single MA dot, adjust to get best results
- MA Type: This is the moving average type to be used
- Confirmation dots - how many same colour dots before a trend direction change signal occurs
- Arrow spacing - this has been changed to Signal spacing and determines where to alert text is displayed from the dots
- Bot token - click here to find out how to get your telegram bot token
- Chat ID - click here to find out how to get your telegram chat id
- Show pop-up - when a signal occurs a message will be displayed on the screen for (x) seconds
- Pop-up delay - this is the number of seconds the pop-up message is displayed on the screen
- Show historical trend - if you select no then all the previous dots from the current candle will be hidden
- Show confirmation text - show/hide the text top right which displays the number of confirmation candles
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Watch a Video Demonstration
The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD.
Duration: 12 minutes