Other methods
The Ind In Screener Trend indicator uses fractal theory to analyze financial markets. Its advantages include accurate wave detection and confirmation of trend direction through a fractal breakout. Sound signals can occur when the price touches any of the fractal levels or when a new line is formed on the chart.
How the Fractal Indicator works: The Fractal Indicator looks for certain patterns consisting of five consecutive bars (or candles) on the price chart. An up fractal is formed when the middle candle has the highest maximum point and the two candles on either side have lower maximums. A down fractal is formed when the middle candle has the lowest minimum point and the two candles on either side have higher lows.
Fractal Indicator Application: Traders use fractal indicators to identify potential pivot points in the market. When an up fractal appears, it can signal a possible reversal of an uptrend. Correspondingly, a down fractal can indicate a potential reversal of a downtrend.
Trading strategies using fractals:
- Breakout Trading: Traders can wait for the price to break the fractal level and enter the trade in the direction of the breakout.
- Pullback Trading: After a fractal is formed, traders can look for a pullback and enter the trade in the direction of the original trend.
- Combination with other indicators: Fractal indicators are often used in combination with other analysis tools such as moving averages or volume indicators to improve the accuracy of the signals.
Advantages and disadvantages:
Advantages:
- Fractal indicators easily identify high and low points.
- They can be applied on any time frame.
- They are suitable for a variety of trading strategies.
Disadvantages:
- False breakouts and signals during periods of low volatility are possible.
- Additional analysis is required to confirm the signals.
Fractal indicators are a powerful tool in a trader's arsenal, but like any other tool, they should be used with caution and in combination with other methods of technical analysis.
Installing the indicator:
Add the Ind In Screener Trend indicator to your trading platform (MetaTrader).
The indicator independently determines trend directions:
- The green indicator line indicates an uptrend, the red one indicates a downtrend.
- When the price crosses the indicator line, you can determine a trend change.
Entry and Exit Points:
- Indicated on the chart with 3 take profit levels. Use the indicator in conjunction with the trading panel Pan_Quantum Lab Technologies.
- The trading panel has a unique functionality to support open orders.
- The panel has a grid function + martingale (this function allows you to get out of the drawdown) if you do not correctly determine the direction of the trend.
- Advantages: easy to use, accurately determines the current trend.
- Remember that indicators are just tools and should be combined with other methods of analysis to make informed decisions on the market. Have a good trade! 📈💹
Pan_Quantum Lab Technologies
Main functions of Pan_Quantum Lab Technologies:
- Opening positions with a specified volume
- Selection of trading mode ( martingale / No martingale )
- Trailing stop system ( to follow an order or a grid of orders )
- Order grid multiplier
- Order grid step ( minimum distance to open )
- Take Profit ( total / single )
- Stop Loss ( total / single )
- Trade statistics ( profit day / week / month / day / open orders / drawdown )
- Pending orders ( Sell Limit / Buy Limit ) with the possibility of a specified distance
- Maximum number of orders in a trade for one instrument
- Comment to orders is set independently
To buy this indicator - follow the link: https://eaquantumlab.com/market/show/29
