The Buy Sell Pivot Signals can by placed on the Forex Pair and Time Frame of your choice. It can reveal highly accurate entry points and generate alerts so that you don’t have to sit around staring at the chart for a signal, which can be especially useful for larger time frames.
The Entries can be taken in one of 2 ways:
1) As soon as the ball and arrow appear enter the market in the direction signaled.
2) If the "Retracement Level" input parameter is set to TRUE then you’ll see a “+“ 50% up or down the bar when the close of the signal bar is already higher (for buy entries) or lower (for short entries) then that 50% point. Once the “+“ appears a LIMIT order to enter can be placed at that level.
NOTE: The Buy Sell Pivot indicator is a standalone indicator and nothing else is needed to be able to effectively use it however for more advanced traders it can also be used in conjunction with a standard oscillator or other indicator that comes with Metatrader, for even more filtering/confirmation of signals, however this is optional and not necessary for successful trading.
Indicator Input Parameters:
The Buy/Sell Pivots Trading is customizable using the following input parameters:
Show Retracement Level: T/F switch to display retracement level “+” for entry.
Arrow Pip Buffer: Number of pips to display signal arrow from candle top/bottom.
Pivot Signal Alert: T/F switch to issue an alert when pivot signal generated.
Retracement Touch Alert: T/F switch to issue an alert when price first touches retracement level.
Note: The following types of alerts will be generated for any Alert switch set to true.
Chart Pop-Up Alert: T/F switch to issue chart pop-up alert.
Audible Alert: T/F switch to issue audible sound. Leave blank for no sound or specify the name of a WAV file for the sound you would like to hear (e.g. alert.wav).
E-mail Alert: T/F switch to issue e-mail alert. The Tools/Options/Email tab in MT4 must be configured properly for this to work.
Mobile Alert: T/F switch to issue text message alert. The Tools/Options/Notifications tab in MT4 must be configured properly for this to work.
Markets and Time Frames:
While the Buy/Sell Pivots Trading can be used across nearly all markets and time frames we’ve found that like
so many pattern-type, and other, indicators larger time-frames work best as the patterns and price action is more predictable and consistent… in other words less noise. WITH THAT SAID, we realize that so many traders are wanting ACTION and A LOT of trades… this can be achieved on higher time frames by simply using the system on several different markets at the same time. In other words, why have a system that trades 10 times a day on 5-minute charts when you can have a more reliable system on 10 charts that trade 1 Hour or 4 Hour charts?
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