Beginner is a free custom technical indicator for Metatrader 4 and Metatrader 5 which shows the maximums and minimums in the market with precision. It can be helpful in breakout trading strategies.
As with all technical indicators, it is recommended to use the Beginner indicator in conjunction with other tools to improve the reliability of its trading signals.
-Aroon Period (normal value = 14): It is the period in the candles/bars in which the indicator must look at the highs and lows in the market trends. The larger the period, there will be fewer trading signals, and the smaller the period, the number of signals will increase.
-Mail Alert: With this option, the Metatrader 4 platform sends signals directly to the trader email whenever there is a crossover in the red and blue lines.
In this article, we show a custom indicator for Metatrader 4 and Metatrader 5 that allow adding the Laguerre indicator to a window below the price chart. This indicator can be used to generate buy and sale trading signals, but like all tools developed in technical analysis, it is recommended its used in conjunction with other indicators to increase the reliability of the signals.
CountBars (normal value = 950): It represents the largest number of bars/candles that are used to calculate the Laguerre. It can be used with increasing values unless you experience performance problems with the platform since the higher the number of bars the higher the consumption of resources.
Indicator parameters Alerts= false GMTshiftSun = 1.0 GMTshift = 0.0 pivot= true StandardPivots = true ListStandardPivots = true It is an indicator designed to show daily Camarilla pivot points on any Metatrader chart. It is based on the famous Camarilla equation, an alternative method to calculate Pivot Points, which lets you determine a central pivot point (PP), four levels of resistance (R1, R2, R3 and R4) … Read more