The Palo4nik indicator is a fairly universal algorithm, as it can be effectively used on almost any asset and time frame.
To download the Palo4nik indicator, use the link that you can see below.
Download Palo4nik indicator
Palo4nik indicator. Optimization
The installation of the described algorithm is simple. You do not need any special skills or experience to complete this task. After launching this technical instrument, a window with its parameters will appear on the screen.
The described algorithm has only one configurable parameter that has at least some effect on its functioning, which is called “Module-Zigmen”, which allows you to activate the ability to draw a zigzag on a trading chart. The rest of the parameters of the described algorithm allow you to change only the appearance of the graphical figures that are displayed on the trading chart.
The fact that the creators of the algorithm under consideration did not foresee the possibility of changing the parameters that affect the correct functioning is ambiguous. On the one hand, this will not allow experienced speculators to fine-tune the algorithm in question to the chart of the selected asset. As for novice speculators, the decision of the creators of the algorithm is positive for them, since the likelihood that the algorithm will function incorrectly due to incorrect settings is excluded.
Using the described algorithm to make money on the foreign exchange market is as simple as possible. You just need to transfer the Palo4nik indicator to the chart of the selected asset and optimize it. Then you should wait for the next signal to appear and create a position in the desired direction.
It is recommended to take the price rebound from the support and resistance level as a signal to create positions. If the price bounces off the resistance line, you need to create a sell position. This trade must be closed after the price approaches the support line.
After the price bounces off the support level, you need to create a buy position. This trade should be closed after the price approaches the resistance level. It is important to understand that some of the signals of the considered algorithm may end up being erroneous. To increase your chances of making a profit, it is recommended to combine the described algorithm with additional tools.
To obtain the necessary optimization skills and apply the considered algorithm, use a demo account. Only after learning how to correctly optimize and apply the algorithm in question, you can start trading with real funds.