The WT Lines indicator boasts a fairly high level of versatility, since the signals it generates maintain an acceptable level of accuracy on almost any currency pair and time intervals.
To download the WT Lines indicator, use the link that you can see below.
Download WT Lines indicator
WT Lines indicator. Optimization
The installation procedure for the considered algorithm is elementary. You do not need any special skills and experience to solve this task. After starting the described algorithm, a window with its parameters will appear in front of you.
The developers of the described algorithm did not foresee the possibility of making changes to the parameters that affect the correctness of its functioning. On the one hand, this is bad, since it does not allow you to fine-tune this technical instrument for the selected time interval and asset.
On the other hand, such a decision by the developers is a plus for beginners, since it excludes the possibility that the described algorithm will function incorrectly and give erroneous signals due to incorrect optimization. As for the available parameters of the described algorithm, you can use them to customize the appearance of the curves displayed on the screen.
It is extremely simple to use the described algorithm to make money on the foreign exchange market. You need to transfer the described algorithm to the chart of the asset you have chosen and optimize it. If we take into account that the considered algorithm does not have parameters that affect its functioning, then it is absolutely not necessary to optimize it. Then you just have to wait for the next signal to appear and create a position in the desired direction.
The described algorithm displays resistance and support levels on the trading chart, therefore, to choose the right moment to enter the market, you can wait for the breakdown of one of these levels or the price rebound from them. If the price bounced off the support level, you should create a buy position. If the price level bounced off the resistance line, then you should create a sell position. In both cases, it is recommended to close the created positions after the price approaches the middle line.
The moment the price level crosses the resistance line, you should create a buy position. When the price level breaks through the support line, a sell deal should be created. Despite the acceptable accuracy of the signals generated by the described algorithm, in order to ensure an acceptable level of security, it is recommended to use it as one of the elements of your own trading strategy. To learn how to correctly optimize and apply the algorithm in question, it is recommended to use a demo account.