Hello Traders! Starting from an idea of youtube channel "Ultra Trader", we have developed this simple indicator and prepared to be used with EasyTrade software. You can setup Alerts for Crypto or Forex/Indices/Stocks/etc...
The simple but working idea behind this indicator, is a combination of "Chandelier Exit strategy" and EMA 200. It's great on long trend.
Good results are obtained with scalping timeframe from 1 to 15-minute timeframe (see video for details).
Settings ATR Period : This value is used to change the number of candles used in ATR formula. ATR Multiplier : This value is used to multiply the ATR value. Use EMA filter and Value : This options Enable/Disable the EMA filter. You can change the period of the EMA R/R ratio : You can set your Risk/Reward ratio according to your trading rules.
Show Trend : Show or hide the indicator cloud Show Signals : Show or hide the dots on the bottom of the graphs and the "Sell" or "Buy" labels. Show TP/SL : Show or hide Take profits (Purple line) and Stop Loss (Orange Line)
Alerts The alert signal generated by the indicator can be directly used by the EasyTrade software to directly execute trades on your preferred Broker.
Conclusion We hope it will be useful to simplify and automate your trading, but remember; always do your back-tests with your trading rules. Suggestions or improvements are always welcome, if they make sense.