Rocket number 1

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Rocket number 1

Class: oscillator/trend
Trading type: intraday
Time frame: 15 min
Purpose: reverse points identification
Level of aggressiveness: aggressive

Indicator «Rocket number 1» generates synthetic support/resistance lines, using the Gaussian distribution for 2 exponentially weighted moving averages, corrected on multiplied standard deviations of these averages.

Simply put, indicator calculates support/resistance zones, generates trading signals and provides information about stop-loss and take-profit values. That is, gives everything a trader needs for professional activity.

Despite the fact that indicator « Rocket number 1» is of oscillatory nature, its algorithm provides preliminary filtration of the oscillatory signals. Only those which are in the local tendency are allowed. That means in case of local downward tendency all the oscillatory “buy” signals will be forbidden and will not be displayed on the chart. This will allow to increase overall quality of the indicator and to increase the % of successful trades,

Structure of the indicator

Indicator consists of 2 blocks:
- oscillatory block – responsible for reverse points identification;
- trend block – is used for the filtration purposes.

The main visual elements of the indicator are:
- Red zone – sell zone. Entering this zone means local price overbought and shows that price reached the resistance line. From this place the likelihood of up-down price reverse is maximum;
- Blue zone – buy zone. Entering this zone means local price oversold and shows that price reached the support line. From this place the likelihood of price down-up reverse is maximum;
- Green line – middle line of the price channel . Used to define take-profits for the most aggressive trades;
- Orange line – local trend line . Only signals in direction of this line are allowed;
- Maroon line (the highest line) – displays stop-loss values for the short positions (sells);
- Dark blue line (the lowest line) – displays stop-loss values for the long positions (buys);
Only permitted signals are displayed on the chart in form of triangles with according color: blue triangles for the “buy” signals and red – for the “sell” ones.

Input parameters of the indicator

To set up the indicator a number of input parameters are used:
- EMA 1 period – period of the fast average (by default 8);
- EMA 2 period - period of the slow average (by default 13);
- TrendLine period – period used to detect trend (by default 55);
- Number of deviations – multiplier of the standard deviations number. This parameter is responsible for the level of aggressiveness of the indicator. The lower the parameter is the more aggressive indicator is, but this can reduce the quality of the signals.

Rules of trading

Appearance of a blue triangle on the chart is a “buy” signal, a red one – is a signal for “sell”. Take-profits are set near the green line (case of fast trades of partial profit fixation) or to the nearest blue zone (case of “sell” trades) and nearest red zone (case of “buy” trades)
For short positions (“sell”) stop-loss is set near the maroon line. For the long positions (“buy”) stop-loss is set near the dark blue line.

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can i try this out please?
Trade24Fx ballofpaper
@ballofpaper, yes, sure. please write in private
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