ForexTrend TSL is a Bollinger Band based trend trading indicator. The mathematical model uses bollinger band to compute the trailing stoploss level for the Buy and Sell Signals.
Feature of ForexTrend TSL
-Bollinger Band based trailing stoploss
-Buy and Sell Signals with Arrow indication
-Sound and popup alerts
-Push notification alerts to your android and IPAD Metatrader 4 app.
-Time Bar Left function added at the Top Left of the Chart and Close to the Current candle.
Step for Installation of the Indicator in Metatrader 4
1) Download and Unzip the file Now Copy/Save the EX4 file into your C:Program Files
2) Launch your MetaTrader application
3) On the left hand side, look for the “Navigator” window.
4) Under the “Common” tab, look into the “Custom Indicators” directory
5) Locate the indicator which you have just downloaded into the folder stated in Step 1
6) Drag (Click and drag) the indicator onto the chart
7) Bingo… done now start using the indicator.
Parameters Length = 10, Deviation = 3 for tighter stop loss, contains less risk , more noises in the system
Parameters Length = 15, Deviation = 3 for moderate stop loss, contains moderate risk , medium noises in the system
Parameters Length = 20, Deviation = 3 for higher stop loss, contains high risk , less noises in the system
FAQ on ForexTrend TSL Indicator
Which timeframe to trade? : Timeframe depens upon the Traders interest. For intraday traders it is recommended to trade within 5-15min timeframe.
Does it works in all the markets? : Yes it works for all the instruments
Has the indicator been backtested? : No indicator will be soon decoded to Amibroker format and will be backtested and the backtested results will be soon available in marketcalls.
Can i trade the signals directly : It is advised to do visual backtesting using strategy tested before trading in live enviroment. By doing visual backtesting one can understand the nature of the trading indicator and the underlying risk in it.
As usual required your feedback and suggetions!
Disclaimer : Indicator produced here is purely for educational purpose to study the market behavior with ForexTrend TSL indicator. Buy and Sell Signals are not meant here to take real trades. If you are trading based on these buy and sell signals then do it at your own risk. marketcalls wont be responsible for the losses incurred.