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Re: Something interesting please post here (Metatrader)

#128
Interesting indicator FX 10Setup

Useful in all timeframes,even M1,does not repaint nor redraws once bar is closed,it is very good for avoiding premature entries,avoiding catching falling knives,good not perfect,not a complete system,may be used for exits too

The way I use it is modifying the Parameter Multiplier to 9 or 10(of course feel free to experiment) and then WAIT until the last arrow has printed before considering an entry,see pic,next bar after last Magenta arrow consider entry long,next bar after last Aqua for shorts...Very good as an exhaustion signaller,specially after fast and furious moves...See pics for both M1 and Weekly timeframes with the same settings  

I think that the intention of its designers was for it to signal entries at the first arrow(hence the arrows direction),it is composed of several oscillators with a moving average filter,and I have found it is way better at signalling potential exhaustion after last arrow has printed

A mq5 version will be interesting,if feasible

S
Fx10Setup.mq4
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