Our indicator 'Trexper' uses the calculation of the same infamous indicator named"Donchian channel"an indicator used in market trading developed by Richard Donchian . It is formed by taking the highest high and the lowest low of the last n periods. The area between the high and the low is the channel for the period chosen in conjunction with another powerful indicator named 'Moving Average Ribbon' which is a series of moving averages of different lengths plotted at the same time on a chart.
In our case, our indicator uses18 different lengths of moving averagesfor the moving average ribbon, and the moving average is calculated based on the simple moving average ( SMA) or Exponential moving average ( EMA ).The Donchian channel and the ribbon indicate the market trend direction. When the current price is above the channel or ribbon it should clearly indicate a bullish trendor buyers getting optimistic and the bulls dominating against bears and when the price is lower the channel or ribbon it should indicate abearish trendor sellers/bears dominating against bulls.
This ribbon and channel bothacts also as dynamic resistance andsupportdepending on where the current price is floating. Price floating above the channel and ribbon will act as a support leveland when price floating below the channel shall act as resistance and price will feel difficulties to break above the channel and ribbon. With some slightly complicated calculation on the higher high and lower low from multiple timeframes of the same security,'Trexper' generates potential long and short trade signals.
It came along with small lines drawn on high or low of a price bar whichpinpoints the highest high or lowest low of the price for that certain financialinstrument.Actually, our indicator is also using another powerful indicator to generate signals and they areAverage true range (ATR)and True range ( TR). The most contribution goes to theaverage true rangeand true range for our indicator to decide either a long or short signal.
WHAT’S THE BENEFIT OF USING TREXPER?
- Powerful 5 conceptsused in one.Donchainchannel, Moving average ribbon, average true range,True range, Swing high, and low.
- Donchain channel and the ribbon indicate the overall market trend with the help of EMA and SMA .
- Dynamic resistance and support levels.
- Generate potentiallong and short trade signals
- Traderscan determine the strength of a trendby looking at the distance between the moving averages ribbon.
- ATR calculation method can be changed from normal (ATR) to an SMA version true range inside setting byticking and unticking the input functionnamed “Change ATR Calculation Method?”.
- Long and short signalscan be turn off/on using “Show Buy/Sell Signals”.
- Alert featureavailable for long and short signals.
Powerful 3 indicator concept used in one
overall market trend
Dynamic resistance and support
Determine the strength of a trend
Available on MT4
All currency pair
Free E-book guideline
More than 80% winning rate
Non repaint indicator
How to installonMT4?
TREXPER Performance on Live Chart:
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