This indicator finds local extremes and indicates the beginning of a new short-term trend. A great tool for intraday and short-term trading.
The indicator finds the likely pivot points of the price and shows them on the chart with asterisks. After confirming the reversal, arrows are displayed on the chart that serve as Buy and Sell signals.
Both asterisks and arrows are formed only after the candle or bar closes. This reduces the number of false signals and significantly increases the accuracy of the indicator.
The indicator has two parameters for adjusting to a specific timeframe and pair.
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Asterisks not less (1..12)
Bars verify (1..24)
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The frequency of occurrence of Buy and Sell signals depends on the settings.
- SETUP 1: Stars == 2, Bars == 6 is great for scalping on the 1min time frame, Or swing trading on the 1hr time frame.
- SETUP 2: Stars == 3, Bars == 12 is very usefull for intra day trading on the 5min time frame
- SETUP 3: Stars == 4, Bars == 16 for the patient jewelers :-)
Non-Repainting
Works on any Timeframe and any pair
Perfect For New Traders And Expert Traders
ALWAYS Set a Stop Loss!!!
