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Hello, friends and fellow Forex traders !
did you ever focus on fat, juicy, meaty trends on the daily charts? Catching this movement can to secure a profit for the month ahead. But how to catch such a movement and, most importantly, kept in it?
we Present to Your attention an unusual trend indicator and correction PZ Trend Trading. In addition to the undeniable merits – the lack of redraw, the signals of the indicator "break" the directed movement of a currency pair or any other market asset into its component parts, giving a clear understanding of what is happening now: the trend correction or reversal.
the Characteristics of the indicator
Platform: MetaTrader 4
Currency pair: any, except for the cross-pairs
trading Time: around the clock
Timeframe: H4, D1, W1
Type of indicator: composite – trend+oscillator
Recommended brokers: Alpari, RoboForex, Amarkets
Quick overview of the indicator
the Indicator helps in determining the:
Direction of the main trend; Correction; Resumption of the trend; reversal and the beginning of the movement in the opposite direction.
Each of the phases of the trend are indicated the number and color layout:
a Unit, painted in blue, indicates the beginning of a rising, red falling trend; F is the correction to the current basic movement; Grey three – continuation (strengthening) rise or fall depending on the color of the previous unit; the Intermittent, dotted lines – trend channels; Solid lines – levels of support and resistance.
despite the seeming simplicity of the signals, the developers of PZ Trend Trading we recommend to use:
well-chosen timeframe, not falling below H4; Trailing stop and take profit; Additional filters in the form of oscillators, levels of support/resistance, chart patterns, etc.
the authors of the PZ Trend Trading indicator refer to the achievement of up to 85% profitable trades on currency pairs and CFD contracts on stock indices. Indicator actually has a minimum of false signals when trend following on the daily candles, and recognition of corrections to increase the position (paramedics), reinvesting the profits from partial closing by take profit.
the Description of the indicator
Indicator invented and coded the trader Arturo López pérez, the founder of the laboratory of Point Zero Trading Solutions. Your attention is invited to the advanced version, equipped with additional so-called scanner trends.
the Indicator uses the search algorithm "trend in the trend" is selected in the user settings for time window and a specified number of candles.
the component parts of the directional movement correction and its sequel — are determined at the close of the candle of the chosen timeframe. The author argues that when determining the correction takes into account the "historical factor" by analyzing the history of past bars also configurable by the user.
the continuation of the trend is defined as a new local minimum after the corrective candles inside and outside of the trend.
the Separation of trend and pullback, according to Arturo Perez, helps newbies not to enter directly in the transaction "unit", and to use the signals of the correction and the trend continuation. Tactics you can pre-select and prepare for trading on the tests, because the indicator does not redraw its own signals.
for Example, please note that historical period (see figure below), the correction signal 2 of the downtrend launched a continuation of the previous 3, but reversed to the upside at point 1 (blue color) to change the falling trend of the "1 – red".
This is the "classic saw" — volatile market, leading to the formation of many false signals, where a well-validated indicators redrawn, usually not having losing trades on this difficult site.
the indicator Settings provide the ability to control the display of internal signals, the periods of the time window, which identifies trends based on current and previous historical quotes.
the use of the indicator and the scanner
the archive contains the application indicator PZ Trending Scanner, which is a window for quick access to Forex instruments on which the algorithm of the indicator automatically keeps track of the strong current trends and adjusting for time frames in the range M1-MN1.
This allows the trader being in the same graph, quickly to open options View other pairs for a decision or to make trades according to the strategy of pairs trading (kvazarmicro).
the PZ Trend Trading Indicator also has a built-in table, allowing to see the direction and force of movement on all standard timeframes of MetaTrader 4 (from M1 to MN1).
in Addition to the color markings (red/blue) row of the table further indicate trends, such as:
Weak – weak; Strong – sustainable.
mounting kit PZ Trending indicator (+scanner)
Downloaded archive indicator contains the English description (from developers) and MQL4 with two subdirectories Indicators and Libraries. Follow the detailed description of how to install indicators in MT4 terminal, given that it is necessary to copy only the files in the appropriate folders "Directory data:
If the transfer was done properly and in the terminal settings is allowed the import DLLs, the indicator and the scanner can be seen through the menu "Custom indicators":
After attaching the script to the chart of the currency pair, the trader will become available in the settings window, in which, besides the tab "Input parameters", leave everything unchanged.
the Exception may be the option "Color", where the trader can change the thickness and shape of lines and color codes of the color signals Trending indicator PZ.
the Input parameters of the indicator can be divided into three block:
settings of the indicator (Indicator Settings); Colour signals to scan from the Dashboard screen, various instruments and time frames; the Color scheme and the thickness of the lines 1, 2, 3 of the indicator; Alerts.
the Main unit settings Indicator Settings determines by using the settings option:
Indicator Period – the window size of the quotes on the basis of which is determined by the main trend.
the Optimum value is 200 candles, for a small period of no possibility of following the trend, with a separate allocation of kickbacks and returns to growth/decline.
the above figure shows an example of settings of period 200, and below 10. Note the complete disappearance of signals 2 and 3 as well as channel lines and support/resistance.
Display trends as smaller bars – enable (true) disable (false) color the color of the candles.
the Trader can write only numbers and lines, the time frames will remain in the colors of the Metatrader terminal settings. Option is provided because of the possible sharing of other indicators that use other types denote a price range (bars, candlesticks, Renko, Heiken Ashi candles, and so on).
Display pullback (2) ceases to display (false) or restores (true), the correction signal 2; Display Inside Bar Breakouts (3) – manage display (true) or concealment (false) candle trend continuation 3; Display Corrections (dashes) – drawing (true) or the cancel symbol (false) of lines of support and resistance; the History Bar to Evaluate the number of time frames in a historical period, based on which analyses current trends.
the Developers suggest to maximize this setting if it does not load the operation of the terminal and the processor of the computer allows without lagging to do the math. The optimal value is equal to 2,000 candles, and the maximum is 10000.
setup PZ Trending Scanner
PZ Trending Scanner is added to any (one) the chart from the section on custom indicators then the trader's options window. The focus is on the tab "Input parameters", other settings can be left default.
the scanner trends are governed by four blocks of variables:
Simbols and Timeframes – allows you to select specific currency pairs and determine the scan depth trends from one minute to the candle, the size of per month; Indicator Settings – options for specifying period (by default 200) and to avoid any part of trend signals (1,2,3, and lines of resistance, support); Display options are options of the window size and font table trends; Alerts – system alerts.
the Tactic works signals indicator
or the Beginning of a trend reversal is indicated by the signal 1 is the result of yield quotations outside of the channel. Since the signals do not repaint, traders can enter the pending orders placed on the lines Buy/Sell Stop or upon closing of the candle.
Trader, using the channel lines as stop-loss may apply "tactics revolution," closing one and entering another transaction (opposite direction).
Alarm 2 occurs on the candle, it is defined as an end correction to the current trend. Developers allocate this signal as the best entrance alternative the beginning of directional movement 1. They claim about 85% of the testing of such signals, noting that they reinforce the trend. The trade entry is made upon close of the candle in the direction of the trend indicated by the color of the candles or number 1, blue long, red short.
the less significant 3 Signal from all signals, it indicates the trend continuation, but the developers suggest for reliability to use buy or sell when there is already an open transaction. Profit maximization occurs when the capacity of the "pyramid" of transactions, a common position can be protected with a stop loss, put in a breakeven, at an average price.
the Signal occurs when:
Exceeding the "mother" candle is the start of the trend (1); On the line of support/resistance (2); Return to the highs after a pullback (3).
support/resistance levels, indicated by the significant reversal of prices. According to the author of the indicator they often occur prior to the formation of a trend in the opposite direction.
Signals PZ Trending Scanner
PZ Trending Scanner is not a trading indicator, is the filter strong trends identified in the current time selected by the user instruments among a given period of time frames. For example, the current picture shows us that at the time terminal time (8 hours 44 minutes) in the six major currency pairs fixed:
AUDUSD-hour candlesticks, EURUSD "chetyrehochkovym," the NZDUSD daily chart – continuation of the downward trend (Breakout). While on the hourly and four hour candles it began recently, and on day yesterday, judging by the timestamp, USDJPY has a strong increasing trends in two time frames H4 and MN; USDCHF – turned on growth on H4.
EURUSD is adjusted on chasovike to the growing trend:
How to use the indicator and the scanner for trading on the Forex market?
Thanks to Alexander Elder traders are met with a simple and effective strategy of "Three Screens", which fits perfectly in this trading system formed by a filter PZ Trending Scanner and indicator.
Choose a currency pair for the transaction on signal of the scanner at the coincidence of directions of two strong trends in the surrounding time frames and open the link graph View.
In this embodiment, under a criterion subject to the USDCHF in which we trade "from long", but a specific point of the transaction choose the method of elder, opening the schedule and setting it on the PZ TrendTrading with basic settings.
On this strategy, we should define three timeframe with the same direction of the trend (in this case up based on the filter PZ Trending Scanner). But the best entry point will occur after the formation of the support line, the youngest candle. The logic of this choice stems from the developers on frequent change (reversal) of the trend after rendering continuous levels of support/resistance.
the table Dashboard select M1 with the downtrend and M5, M15 with the opposite Strong Uptrend.
the entrance to the long carried out at the market on a minute chart USDCHF, after the occurrence of the support, the stop loss should be placed at the tick below the low of the indicated by the indicator line.
Proceed on the advice of the developers of the indicator, we use a trailing stop, moving it to breakeven after five minutes (medium timeframe). Then move stop in profit after each occurrence of a signal continuation of trend 3, in terms of the price channel.
Take profit is fixed automatically by triggering the trailing stop, after the next correction. It was possible to limit the maximum residence time in the transaction size, timeframe – 15 minutes
the Developers of the indicator showed an interesting approach to the decomposition of the trend in phase and the technical solution in the form of a scanner trends. Despite a sufficient number of signals and rendering the price channels — PZ Trend Trading is a complete trading system.
you should Also pay attention to the orientation of the tactics of working on larger TF and the long period of the time window. The signals of the indicator help to avoid premature exits for long-term and medium-term trends, but do not solve the problem filatovich plots, giving false signals.
So do the developers recognize the need to use additional indicators and think about tactics and money management. It is possible to make the tester, because we know that PZ Trend Trading no repaint signals.
Download PZ Trend Trading indicator
With respect, Alexey Vergunov
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