- Also added a Price Action candle for "Last S/R Break", this also a good continuation indication.
- Added option to select a different moving average types for directional MA line.
- Modified some default settings, using HullMA instead of and standard settings(12,26,9).
This is a trend following indicator and alert for Binary Options based on patterns and -
NOTE: original system was a forex trading system.
This code combines a number of indicators to create an overall trading strategy.
The indicator recognises and displays some useful candle named defined patterns that are used to support trend continuation:
- Bearish + PinBars
- Dark Cloud Cover
- Piecing Line
- Bullish + Harami
- Bullish + Candle
- Bullish + Last S/R break
- Yellow = - breakout/continuance
- Orange = Outside Bar - breakout/continuance
- Aqua/Fuschia = Up/Down Shaved Bars - Buying/Selling pressure
- Red/Green = Possible reversal PinBars - Reverse Down / reverse Up
The upper/lower break lines are also draw, if the (optional) last break line is broken by a highlighted bar then this indicates a stronger trend conformation.
The indicator DEUTER 2 colour(12,26,9) you can visually see the histogram colours with direction - needs "MACD DEUTER 2 colour" indicator.
This multi-indicator set up is suitable for 1hr, 4hr and with 1-4 candle expiry.
References and Inspiration from:
- Fractal Levels by RicardoSantos
- Candlestick Patterns With by rmwaddelljr
- CM_Price-Action-Bars by ChrisMoody
- "Scalp Jockey - MTF MA Cross Visual Strategizer by JayRogers"
The MA color change was never part of the original trading strategy idea, the trade signals are supposed to be the supportive candle patterns.