The main purpose of the described algorithm is to display support / resistance levels on the trading chart, which can be guided by in the process of choosing the optimal moments to enter the market. Due to the simplicity and maximum clarity of the signals issued by the described algorithm, it can be safely recommended to beginners who are just getting acquainted with the foreign exchange market.
The GL MTF ATR TT indicator has a fairly high level of versatility, since the signals it generates can be successfully used in the process of trading on almost any currency pair and time interval.
To download the GL MTF ATR TT indicator, use the link that can be seen below.
Download GL MTF ATR TT indicator
GL MTF ATR TT indicator. Optimization
The installation procedure for the described algorithm is extremely simple. You do not need any special skills or experience to complete this task. After starting the considered algorithm, a window with its parameters will appear in front of you.
The described algorithm has the following parameters:
- “Time-Frame”. This parameter is responsible for the time interval that you will use to make money.
- Count-Atr-MTF. In this field, you must specify the number of time intervals that the described algorithm will take into account in the process of generating signals.
- Draw-MTF. This parameter is responsible for the number of time intervals on which the described algorithm will display its signals.
- Show-Current. After activating this function, the described algorithm will display only signals for the current time interval on the trading chart.
In fact, the described algorithm has a much larger number of parameters, but for its successful operation it is sufficient to optimize only the ones mentioned above. Due to the fact that the considered algorithm has a relatively small number of adjustable parameters, not only a speculator with a certain trading experience, but also a beginner can successfully cope with the process of its optimization.
Using the described algorithm for making money is as simple as possible. You need to transfer the GL MTF ATR TT indicator to the chart of the selected asset and perform the optimization procedure. Then you should wait for the next signal to appear and create a position in the desired direction.
There are two methods of using the considered algorithm for making money. You can create positions after the price level bounces off the levels displayed on the screen. After a rebound from the support level, you need to create a buy position. If the price bounces off the resistance level, you need to open a sell order.
You can also create a position after breaking through one of the levels. If the resistance level is broken, then you should create a buy position. When the support level is broken, you should create a sell position. To learn how to correctly optimize and apply the algorithm in question, use a demo account. Only after accumulating the required amount of experience and skills in applying the algorithm in question can one begin the process of trading for real money.