Description

Price Boat Trading FX v1.1

Expert: smMagicGator EA_v1.1.ex4, Indicators: smPriceBoat Signals_v1.0.ex4, smMagicGator Signals_v1.2.ex4, smAverageTrueRange_v4.ex4, Template: PriceBoat.tpl, pdf: How to install MT4 files.pdf

Description:

The indicator is intended for traders on D1, H4 who don’t like scalping.
At your own responsibility, you can also trade on H1, M30 or M15 …

The essentials at the moment are the trading levels in the direction of the trend, and those who pay attention will recognize the advantages.

• The levels are at least Factor*ATR apart, so that e.g. as TP can take this value into account.
• The fast MA changes color depending on the position of the Close MA compared to Open MA.
• The slow MA corresponds to the trading direction depending on the position of the bar close.
• As a first strategy you can take SL and TP = FactorATR. Because there is a sudden candle reversal, especially at the end of a trend, I would install a small hedge with 2Lots after -0.50FactorATR. So you can either bring the loss for the SL to zero, or accept the loss. There is an EA to analyze that and will post it later.
• Breakeven can be set after +0.50FactorATR. Sometimes it’s an advantage, sometimes not.
• If you want to use a trailing stop, you can do that of course. I currently like the idea that can be seen in the “FX Mantra” indicator (Google …).
  Later I will post my own version of this indicator.

For the “Draw_Patterns” parameter we have:

Signals for “Fractal Pattern (1×1)”

Signals for “Smash Bar Pattern”

Signals for “Reversal Bar Pattern (Magic100)”

Signals for “All Patterns”