Introducing the Trend Starter Indicator (TSI)!
The Trend Starter Indicator (TSI) is an innovative trading tool designed to provide traders with precise and actionable signals for potential market entry points. By capitalizing on the unique interplay of two internal oscillators combined with astute price action monitoring, TSI aims to optimize and simplify the decision-making process in the dynamic world of trading. The indicator offers a range of customizable settings, allowing traders to fine-tune their approach to better suit individual preferences and trading strategies. Please check out this page for more in-depth explanation to all settings, and values recommendations https://www.mql5.com/en/blogs/post/754283 :
1) Arrow Position: Choose your visual cues! This setting lets you decide where you'd like the indicator arrows to appear either on the main chart for easy visualization of entry points, or on the oscillator window for a focused signal representation.
2) Variable 1 and 2 Parameters: These settings correspond to the primary variables of the two oscillators within the TSI. Adjusting these values can influence the frequency of signals generated.
3) Variable 1 and 2 Periods: Determine the number of candles the TSI considers when calculating oscillator values. Adjusting these values can influence the frequency of signals generated.
4) Crossover Sensitivity: Refine your entry points! This parameter defines the sensitivity of signals post crossover events.
5) Indicator HL for Buy / LH for Sell: Introducing a dynamic filter based on signal positioning! When activated, this feature ensures a buy signal only manifests if it originates from a higher low relative to the preceding signal, enhancing the quality and potential of each entry point.
6) Indicator Value to Buy and Sell Limit: Gain control over market conditions for your entries. This parameter allows traders to filter buy positions based on perceived market saturation. For instance, with a limit set at 20, any buy signal triggered at a value of 30 will be excluded, ensuring you avoid potential overbought scenarios.
7) Indicator Divergence: A special treat for divergence enthusiasts! The TSI can exclusively display signals that present a divergence when compared to price action, providing an additional layer of analytical depth to your trading strategy.
By mastering the diverse settings of the Trend Starter Indicator, traders can optimize their approach, ensuring they harness the full potential of what the TSI has to offer. While the TSI lights the path, always remember - it's part of the journey, not the entire route. Trade smart! Use the indicator signals ONLY in tandem with a well-rounded trading strategy, be it trend-following with EMAs, leveraging supply and demand for reversals. liquidity grabs, or whatever your strategy is, alongside proper risk management system.
Best of luck and happy trading!
