Trend Bar Balance Indicator
Simple indicator based on trend detection and support resistance breakage
It detects the major trend and the minor support and resistance levels
*** a signal for UP /BUY is detected and alerted in a BULL trend and a resistance level break
*** a signal for DOWN /SELL is detected and alerted in a Bear trend and a support level break
THE POWER OF THIS INDICATOR I USE IT WHEN YOU COMBINE ITS DAILY SIGNALS FROM DIFFERENT CHART SYMBOLS AT SAME TIME AND CLOSE ALL ORDERS BY END OF DAY
Inputs :
*** Bars count : used for trend calculations and support resistance levels (min value 20)
*** Shift : calculations start after how many bars
*** Indicator start Hour for signaling (i use the start of europe session 10 as per ME times)
*** Indicator end Hour for signaling (i use 20 as per ME times)
*** enable/disable alerts
*** enable/disable Email alerts
You can try it on any time frame M1,M5,M15,M30,H1,H4 as long as bars count not less than 20
--- I use M30 with parameters Bars = 50 , shift = 1 , hour start = 10 , hour end = 20)
of course higher time frames need lower bars input (not less than 20)
