Market Scanner PRO is an information indicator that can analyze the direction of a trend on all trading instruments and time frames that are available in your MT4 terminal.
MarketScannerPRO should not be used as an independent trading tool. This indicator can only act as an additional filter to determine the overall trend. This will be useful when opening a position on the main trading signal in the direction of the trend. If the trend direction coincides on all time frames, then this is a stronger signal:
It is not clear which algorithm the indicator uses to detect the direction of the trend. Most likely, the data are built on the basis of price extremes. But this method can be very useful and accurate.
By default, the indicator shows the direction of the trend on major currency pairs. But you can install any trading asset available in your Metatrader 4. Just write this asset in the indicator settings separated by a comma without a space:
As you can see on the image, this indicator calculates trends on all time frames using 9 indicators: ADX, RSI, MOM, CCI, OsMA, MACD, SAR, WPR, MA. There is a general trend (M15, M30, H1, H4 and D1 time frame), which is calculated by a combination of the previous 9 indicators.
Conservative trading (very high win probability but less frequent trading signals):
ENTRY POINT: When all 9 indicators point in the same direction for the given timeframe place the respective BUY / SELL trade.
EXIT POINT: When all 9 indicators point in the opposite direction for the same timeframe, exit the trade.
Dynamic trading (more balanced win probability but more frequent trading signals ) :
ENTRY POINT: When 7 out of the 9 indicators point in the same direction for the given timeframe place the respective BUY / SELL trade.
EXIT POINT: When all 7 out of the 9 indicators point in the opposite direction for the same timeframe, exit the trade.
TIMEFRAME: This can be used on any timeframe.
STOP LOSS : We recommend 85% of the timeframe’s Average True Range (ATR) HOT TIP: Keep an eye on the cumulative indicator – it highlights where the trend is going.
The PZ Day Trading indicator has been especially designed for scalping intraday charts and detects reversals in a Zig-Zag fashion, without repainting or backpainting at all. Based on breakouts and congestion zones of variable lengths, the indicator uses only price action to pick trades and reacts to the market extremely fast. Its winning ratio is around 90%
Long Entry
1. price above buy zone fib, blue rsi chart bar
2. William's percent range indicator gold line entering or inside blue area
above -25.00
3.RSIOMA clearly crossed up
Short Entry
1. Price below sell zone fib, red rsi chart bar
2. William's Percent Range Indicator gold line entering or inside red area
below -75.00
3.RSIOMA clerly crossed down
Exceptions for opening a Trade when above conditions are met:
1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.
Exit position:
Safest
1. When price hits next pivot point line in direction of trade.
Moderately Safe
1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.
