The Trade by levels for mt5 indicator is designed for automatic detection
forming a model for entering the market on the chart of the selected instrument.
Б BSU-the bar that formed the level.
⦁ BPU 1 and BPU 2-bars confirming the level.
Description of the graphic model:
хай the high-low levels of the BSU and BPU 1 bars must match with
accurate to the point
⦁ there can be any number of bars between BSU and BPU 1.
⦁ there should be no intermediate bars between BPU 1 and BPU 2.
you must also confirm the level at which the entry is made at the 4th bar.
Trading rules for the model:
- Trading is conducted according to the trend with limit orders. Only rebounds from the levels are traded.
You can trade against the trend in the following cases:⦁ if the current price of the instrument is near the level.⦁ if the issuer has passed at least 75% of its ATR.
- 30 seconds before the closing of BSU2, a limit order is placed with an offset above/below the level by the amount of backlash.
- The stop is calculated as a % of the current price, 0.2 – 0.5 is recommended%
- If the order is not opened, and the price has passed 2 actual stops from the price of the pending order – the order is canceled.
- Tool: any.
Timeframes:D1 – to determine the trend, the ATR value for the last 5 days.H1 – to enter a trade on the signal of the model.
- Period ATR (day) – the number of days to calculate the ATR
- ATR in pips/punkt-displays the ATR value in pips.points of sale
- Ratio for TP/SL – ratio of Take Profit to Stop Loss
- Risk for calculate Lot, (%of Margin) – The percentage of risk from the free margin for calculating the lot
- StopLoss in % from Bid – the size of the StopLoss in % of the current price
- Decrease SL 10 times if TF 30 min – If the period of the chart
- Gap for level on BCL2, (%of StopLoss) – the size of the “backlash” for the BCL2 bar, in % of the StopLoss
- Number of bars for calculate trend – the number of bars to calculate the trend
- Text color1 – the color of the data label
- Text color2 – the color of the data label
- Text color3 – the color of the data label
Free Download and Review TBL for mt5 from Fxbotreview.com/