Technical Indicators for MetaTrader 5

Price Action Reversal

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Information

Indicators
MetaTrader 5
5
Puiu Alex
23 September 2018
1.0

Overview

Price action is among the most popular trading concepts. A trader who knows how to use price action the right way can often improve his performance and his way of looking at charts significantly. However, there are still a lot of misunderstandings and half-truths circulating that confuse traders and set them up for failure.

Using PA Trend Reversal will be possible to identify high probability exhaustion moves of a trend.

Features

  • The indicator gives alerts in real-time when the conditions are met.
  • Configures which currency pairs on which timeframes you want to be alerted.

Inputs

  • Candles Calculation - How many candles do you want to look back for the indicator for the price action calculation.
*I recommend using 4-5 candles for optimal results!
  • Alert Notification: Metatrader Alert.
  • Mobile Notification: Send alert to mobile.


Strategy Trend Reversal Signals for Binary Options (Timeframe recommended: 5-15MIN)

  • Alert comes in and the current candle is near a support/resistance or a RN (Round Number).
  • The candle size is big compared to the previous candles.
  • You enter with 5 seconds before the current candle closes, if only the candle doesn't retrace.

Strategy Trend Reversal Signals For Forex (Timeframe recommend: 1H-4H)

  • Alert comes in and the current candle is near a support/resistance. If the candle close breaking out the support/resistance, enter but with small lot.
  • The candle size is big compared to the previous candles.
  • DO NOT trade during news.


How to maximize the profit ?


Use the indicator with these settings:

Candles Calculation = 5 or 6

Will be less signals but more accurate. especially on Binary Options.

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