Contrast Indicator - universal tool for scalping and day trading
Contrast Indicator perfectly suited for scalping and long-term trade. The main principle of the indicator lies in the definition of contrast. That is, to determine the true nature of the current movement, a comparison with the movement preceding it is necessary. This approach allows to catch new movements in the market, which are likely to continue.
Characteristics of Contrast Indicator
Platform: Metatrader4
Currency pairs: Any
Trading Time: Around the clock
Timeframe: Any
Recommended broker: InstaForex, XM, RoboForex
How it works?
Contrast Indicator consists of two parts:
First (Contrast) - in the form of red and yellow lines on the likeness of the channel. This indicator has only one parameter in the settings - coeff. Increasing this parameter further spreads the lines between each other, and now they will need more time to cross. You can also set the coefficient with the minus sign (-), then the signals will appear more often. This function may be necessary for traders who trade binary options.
Second (Contrast-mtf) - in the form of a histogram in a lower window, which shows the values of the indicator from different timeframes. In the settings, you can also specify the coefficient and the values of four timeframes (next 1, next 2, next 3), including the current timeframe:
contrast-mtf
An important characteristic of the Contrast Indicator is that there is no repainting. Repaint only the value of the current bar and the entire history of the calculated remains valid even after a restart of the indicator or the terminal. Thus, the indicator is well suited for manual test on the history. And, therefore, the order should be opened on the next candle after crossing the lines.
Save time withd software.
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