IDNR4 and July 28 Pairs Radar MT5
This indicator identifies two powerful pattern IDRN4 and IDNR7 28 pairs when a new daily bar.
IDNR4 - an acronym for "Inside Day Narrow Range 4", where the "Inside Day" - a day bar with a lower high and higher low than the previous bar, and "Narrow Range 4" - bar with the narrowest range of the last 4 bar. Similarly, "Narrow Range 7" - 7 bars.
Therefore, ID / NR4 and more reliable ID / NR7 - are objective criteria to determine the days with low range and volatility.
Upon detection pattern ID / NR4 or ID / NR7, should open transaction in the sample as resumption volatility.
The rules for long trades
- The inner bar with the lowest range in the last 4 or 7 bars.
- Set the Buy Stop order above the high of the bar.
- Wait until the sample does not activate the order.
The rules for short trades
- The inner bar with the lowest range in the last 4 or 7 bars.
- Install the Sell Stop order below the bar low.
- Wait until the sample does not activate the order.
settings
- Pairs_Suffix: suffix pair, for example, "micro" or "-ECN".
- alert_Notification: alerts in the terminal when detecting pattern IDNR4 IDNR7 or on one or more pairs.
- Push_Notification: Sending push-messages to the mobile device when it detects a pattern IDNR4 IDNR7 or in one or more pairs.
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