Trade Confirmed Indicator – 10 data points for buy or sell signals

Trade Confirmed Indicator is based on the use of a price action pattern in combination with some 10 data points measured in real time. In simple words, we have an indicator based on the PA pattern with a filter that determines the current trend direction. The indicator has an alert about the exit from a position, implemented in the form of secondary signals of the opposite direction (more on this below).

Characteristics of the Trade Confirmed Indicator

• Platform: Metatrader4

• Currency pairs: Any currency pairs, recommended major

• Trading Time: Any trading sessions

• Time Frame: Any

• Recommended broker: RoboForex, InstaForex, Forex4you

Trading rules

The indicator has a panel showing the current trend direction in percentage terms. This serves as a filter for opening a position. Signals for opening a position are of two types: a small arrow and a large arrow. I suggest not to consider the small arrow as a signal to open a position, as it sometimes appears with a delay. It should only be used as a signal to exit a trade. Only a large arrow can serve as a signal to enter.

BUY Signal:

1. Green Up Arrow ↑

2. Meter is signal BUY 80% or more

SELL Signal:

1. Red Down Arrow ↓

2. Meter is signal SELL 80% or more

Never enter a trade unless the Meter confirms the direction of the arrow!

Exit when the opposite small arrow appears:

A small live time video:

The video shows that sometimes the arrows are repainted, despite the fact that the developer assures us that there is no such drawback. But repainting is not a critical factor in this case. This can be easily treated with additional filters. By the way, the developers strongly advise against using this indicator alone.

In conclusion, I want to say that this indicator can be used on any timeframes and pairs. And it will not be superfluous to supplement it with additional filters. Don't forget about Money Management and preliminary testing on a demo account.

In the archive Trade_Confirmed_Indicator.rar (249.2 Kb):

• Trade_Confirmed_Indicator_fix.ex4

• Trade_Confirmed_Indicator temp.tpl