Descriptions
It’s been a popular indicator at China forex community. Rewritten for MT5.
Instructions
BUY/SELL signals are triggered when moving retreat.
Gray channel – sideway, that might trigger both BUY/SELL signal
Maroon channel – uptrend, that only triggers BUY signal
Green channel – downtrend, that only triggers SELL signal
There’re 6 types of signal texts displayed on chart:
BUY
SELL
CLOSE-BUY
CLOSE-SELL
SL-BUY: SL means stoploss
SL-SELL
4 signal alert methods are provided for above 4 signals (BUY/SELL/CLOSE-BUY/CLOSE-SELL) – but default are set off.
You might elect to set that on.
Popup Alert
Sound Alert
Mail Alert
Mobile Alert
5. “nBarMax” – you might set the max K bars to be calculated/displayed.
6. You might set your desired text/channel colors at “ColorVariables” section.
Note: In certain circumstances, the signals will be slightly repainted. However it’s still good if you want early signal popup.