This indicator forms a signal for opening a buy or sell order. It is based on the analysis of the situation at the crossing of two moving averages with different periods (set by the values of WavePeriod and AvgPeriod variables). The indicator is designed to be used on Н1 time frame. It can also work on higher and lower time frames, in which case it is advisable to run the optimization and use the more appropriate values of WavePeriod and AvgPeriod variables, rather than 10 and 21, respectively, as recommended for H1 time frame.

Recommended Use

We analyze senior time frames (starting from H4 and higher) and identify the trend type: uptrend (bullish), downtrend (bearish) or flat (sideways trend, no trend). If uptrend is identified on senior time frames, we open only buy orders based on the relevant indicator signals; sell signals are ignored.

If there is a downtrend on senior time frames, we open only sell orders and ignore all buy signals of the indicator. If it is difficult to identify the trend type on senior time frames and it is believed to be a sideways trend, we can open both buy and sell orders using the relevant indicator signals. If we have an open order while trading in the direction of the trend (e.g. a buy order open on the bullish trend), the signal for opening an order in the counter-trend direction (a sell signal, in our example) can be considered a signal for closing the earlier opened order.

 

Settings

• The Sound variable can be set to TRUE or FALSE (default value) - whether or not to display information about the new signal in a pop-up window (alert).
  
• The Email variable can be set to TRUE or FALSE (default value) – whether or not to send information about the signal via email.
• The sn variable can be set to TRUE or FALSE (default value) - to send information about the signal to a mobile device (i.e. SendNotification).
• To be able to receive email alerts and mobile notifications (SendNotification), you need to make the necessary settings in the МetaТrader 4 terminal (using Notifications and Email tabs under Options in the metaTrader 4 terminal).