The setup is triggered if the price passes the blue dash. Do not enter the trade unless price passes the blue dash. Each setup has 3 possible targets, which are dashes colored green for longs and red for shorts.
You can use the baseline (which is a trend-line that is either green for or red for ) to manage the trade. You should only enter long trades if the trend-line is green, and only enter short trades if the trend-line is red. One strategy would be if you enter a trade long, and reach the first target, you can take some profits, but still let the some of the position run, where a bar closing beyond the baseline or breaks a prior opposite , would stop out your remaining position.
- Blue Dash = Entry Trigger
- Green Dashes = Long Targets (3 of them, for different price targets: target 1, 2 and 3)
- Red Dashes = Short Targets (3 of them, for different price targets: target 1, 2 and 3)
The great thing about this indicator is that its universal, there are no settings necessary -- just put it on the chart and it finds high probability setups and paints it on the chart as they occur. There is NO Repainting with this indicator.
Of course, you can add other indicators if you wish, and even add this indicator to your existing trading system.
Again, this indicator does NOT repaint.
Once a setup is found, the indicator draws the entry trigger price and the targets at the setup bar close.
Setup Alerts are fully supported, via email, sms , and desktop notification.
*If you wish to license this indicator, please contact me via private message for details regarding access. Thank you.
, forex, stock, crypto and derivative trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results
Hypothetical Performance Disclosure
Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results