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ExclamationMy Indicator reviews and experiences

#1
Hello guys,

It has been more than 4 years that I have been learning about trading on MT4. Out of these 4 years I have spent nearly 3 years studying the charts and indicators 24X7 (and that means 24X7 , i had hardly any sleep , no social life and also studying on weekends). Currently I trade binary options and make tutorials on youtube (on non trading stuff).

All this time I had checked on numerous indicators. At this point I believe I am qualified to write my thoughts on some of the best/interesting indicators that I came across. Most of these indicators are free, there are some which are paid (although still very cheap). I might also write about paid indicators unless mods and others have a issue. Although I will not be writing about indicators which I got made for my own. Most of these indicators are suited for binaries and intraday trading.

So thanks for being with me.
Know Thy Setup. Know Thyself.


Re: My Indicator reviews and experiences

#3
Let us start with two zone type indicators. These type of indicators are my favorite. Both these indicators were made by a user called MTH2014 (on a different forum). He is a retiree from that famous place, and is one of the highest taxpayer in his country. All his indicators are excellent but unfortunately usually not too easy to use.

This first indicator is a supply – demand indicator. For binary options its possible to use only this indicator and be profitable. There are lot of display options including the weak – strong, fib levels , retouch etc. I find this one too good for a free indicator.


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The second indicator is called as wing-ding indicator. He made it using his own ‘median price theory’. I only partially understand the theory, but these zones should be seen as 'attractors' i.e, where price will eventually swing back to.

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! b1010+ MTH2014 SuppDem Mod Indi.ex4
(127.37 KiB) Downloaded 1395 times
! b1090+ MTH2014 xixi TZ Mod w auto h wing Indi.ex4
(150.29 KiB) Downloaded 1311 times
Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

#5
Cladi39 wrote:
Sun Sep 15, 2019 3:14 am
The second one is similar to this, like all the support and ressistance indicators recalculate soo only can be used for reference.
This one is using a different math for sure. Anyways recalculation is not a issue. you need not do anything while its still forming. when once the price moves away and zone is formed it stays. Now that zone becomes the area where price is eventually expected to swing back to.

btw please also post a screenshot. that will help people know the indicator a bit without having to download it beforehand.
Know Thy Setup. Know Thyself.


Re: My Indicator reviews and experiences

#6
shaileshm wrote:
Sun Sep 15, 2019 2:10 am
Let us start with two zone type indicators. These type of indicators are my favorite. Both these indicators were made by a user called MTH2014 (on a different forum). He is a retiree from that famous place, and is one of the highest taxpayer in his country. All his indicators are excellent but unfortunately usually not too easy to use.

This first indicator is a supply – demand indicator. For binary options its possible to use only this indicator and be profitable. There are lot of display options including the weak – strong, fib levels , retouch etc. I find this one too good for a free indicator.


--------
Image
--------


The second indicator is called as wing-ding indicator. He made it using his own ‘median price theory’. I only partially understand the theory, but these zones should be seen as 'attractors' i.e, where price will eventually swing back to.

--------
Image
--------
Dear Shaileshm, thanks for the topic and the fact that sharing experience and working indicators is priceless !!! If there is an opportunity and time, could you add a brief description of the principle of work and examples of entering into a transaction to the indicators, that would be perfect! Thank you, sorry for my importunity)))
Volente Deo

Re: My Indicator reviews and experiences

#7
Antonio wrote:
Sun Sep 15, 2019 6:28 am

Dear Shaileshm, thanks for the topic and the fact that sharing experience and working indicators is priceless !!! If there is an opportunity and time, could you add a brief description of the principle of work and examples of entering into a transaction to the indicators, that would be perfect! Thank you, sorry for my importunity)))
I will add the working principle based on whatever I understand if it. For supply demand you already know these are regions where big orders might be sitting and hence price can turn here. There are many different methods of identifying these regions and hence the result will vary from one indicator to other. For wing ding I already mentioned what I knew.

I do not intend to discuss full fledged trading strategy here. Unless the indicator itself suggests a specific entry points. The trading styles and strategies are usually trader dependent and there are other threads where this can be discussed. However I also wouldn't mind if readers suggest their own ideas and strategies
Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

#8
My ideas, strategies or indicators i use are based in the basic principle of market, The price tends to correct when a sudden movement in the opposite direction appears. Soo basicaly im a pullback trader.
Check attached picture.
AU.png

Re: My Indicator reviews and experiences

#9
Next we look at a paid zone type indicator.

Name: Volume Ticks Ressup
Author: Sergey Zhukov
Price: $20
Free version available which works on demo account of EURUSD pair.


This indicator I really like it. This attempts to search for regions where big dealings take place. Also very interesting is that its takes the tick data into account for creating these regions. What you will notice is that once the price eventually leaves the zone it usually goes for a strong rally. The zones are drawn without any lag or delay. The position of the zones can change in 1st few minutes after after a region is triggered. But usually the volatility is very high at those moments and normally a retail trader shouldnt't be interested in entering in a position there. This indicator is suitable for binary options and intraday trading.

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On a con side I feel sometimes it misses a important zone or two. If possible I would like to make certain changes to this indi. So if anyone of you can code it, please let me know.

Download from: Terminal directly on your MT4

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Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

#10
This will be the last zone type indicator for time being.

Name: ShvedSupDem Pro Zone
Author: Andrey Shvedov
Price: $10 per month


It is a paid indicator but the reason I included it is not just because it good, but it is the only indicator to my knowledge which draws the zones according to the rules of Sam Seiden. Anyone studying supply demand would have come across his name. Now personally I agree only partially with his teachings. But if you like him then this indicator might be just right for you.

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The indicator is a complete trading system in way. It is very intuitive to use both for binary options and forex and it works quite well. However please note that is only works on the time frame of M5 and above.

Download from: Terminal directly on your MT4


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Know Thy Setup. Know Thyself.


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