Yes, this is a good indicator from the old trading system, which for some reason was associated with Karl Ditman in the title.kysbog wrote: Mon Jun 06, 2022 3:41 am Hi,
This is my first post and my english its not that good but will try i dont know if this indicator its out here prolly its is but just wanted to share with you guys i found it 2 years ago out there cant remember where and stopped using i dont remember the reason but i know i had it somewhere in my files so here it is the indicator DOES NOT REPAINT. I use it with some xard systems or whoever made them thank you. So i use it with all that for more confirmation. The indicator works in any timeframe but i think it definetly works better in higher like 15 min or 30 min etc.
And im sharing my template for me its my holy grail at least i think cause i understand it and follow the rules.
And nonetheless thank you every coder out there who came with all these wonderful systems and indicators!
* He tells you where to put your stoploss tho.
Important: One thing i noticed with the indicator its every time (not always but sometimes) he gives a signal and you take it the price can retrace for a little and then go in the direction where he is pointing at so dont get scared thats if all your bias its correct.
Buy Signal
The indicator shows a green arrow, signaling that it is time to enter a long position. A screen alert pops up to ensure to identify the signal in real time. The best part is that the indicator calculates stop loss for you. All you have to do is to fill in the order. Alternatively, you can place the stop loss just below the grey dotted line.
Where should you exit the trade? Well, you set the take profit using the 3:1 reward ratio. In other words, you can set your own profit target, say 50 pips. Also, you can wait for the indicator to post a bearish signal and exit the buy trade.
Sell Signal
Open short position when the indicator displays a red arrow and a sell alert. The pop-up alert also displays a suitable sell stop. Also, you can use a tighter stop loss by setting it just above the dotted line. If you are not sure about setting your own take profit, simply exit when the indicator posts a buy signal.
ENJOY WISH YOU GOOD LUCK IN YOUR TRADING! (:
But, if we put a BB Stop with the same periods, they will absolutely match. I slightly changed the Risk parameter of BBStop so that the first indicator is visible.
By the way, here is the open source
