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ytg_PRIMITIVE_SYSTEM_1 - Indicator for MetaTrader 4

ytg_PRIMITIVE_SYSTEM_1
TypeIndicators PlatformMT4 Version10 Date created 8 June 2016 Date updated19 August 2017
Formatmq4 Size11.6Kb Downloads513 Rating
4.8 of 5
based on 69 rates

This indicator displays the lines of PC, MA, and ATR levels on the graph. All the indicators are drawn with a shift of 1 bar. Bars that made a breakdown of the channel are marked with checkmarks in squares of purple.

Here's how to read the indicator:

  • The yellow line is MA10;
  • The red line is a 10-day maximum (PC);
  • The green line is a 10-day minimum (PC);
  • The green dashed line is two sizes of the ATR, it serves as a tip for the Take Profit;
  • The red dotted line is a one size of the ATR, it serves as a tip for the Stop Loss.

The strategy based on this indicator features opening the orders on the channel breakdowns and price reversals.

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