The ADX Crosses nrp Histo alerts indicator is a trading algorithm whose calculations are based on a modification of the standard forex indicator ADX. Its calculations are aimed at determining the current market trend, namely its current direction and strength, which in turn is taken into account when opening a certain trade. The indicator is presented in the lower window of the price chart as a histogram that changes its color when certain market conditions are received. During the trading period, in addition to the indicator values, its signals are also taken into account.
The ADX Crosses nrp Histo alerts indicator works equally effectively on any timeframe using any currency pair.
The settings of the ADX Crosses nrp Histo alerts indicator consist of several sections responsible for its general functioning. Thus, the Input parameters section is used to change its technical data, the Colors section is used to change its visualization and to add signal levels, the Levels section is used.
-ADXcrossesPeriod - indicator calculation period. The default value is 14.
-alertsOn - the option to have notifications when receiving alerts. By default, it is set to true.
-alertsOnCurrent - signal parameter on the current bar. The default value is false.
-alertsMessage - signal parameter in the form of a message in the main window of the indicator. The default value is true.
-alertsSound - option to sound notification when an alert is received. The default value is false.
-alertsEmail - option to receive an alert to the previously specified email. The default value is false.
The ADX Crosses nrp Histo alerts indicator is easy to use not only due to its visualization, but also due to the presence of notifications when a signal is received from the indicator. To open a certain trade, it should be taken into account the current trend, for this, in turn, the color of the indicator histogram is taken into account. If the current trend the market is upward, buy trades are opened, if the trend is downward, sell trades. At the same time, the current trend must be confirmed by the indicator signal. When the current trend changes, in both cases, trades are closed.
Signal for Buy trades:
- At least three bars of the indicator's histogram are colored with growth value.
Upon receipt of such a condition on a signal candle that characterizes an uptrend, a long position may be opened. When the current trend changes, namely, upon receipt of reverse conditions from the indicator, the transaction should be closed and a new one should be considered.
Signal for Sell trades:
- Histogram bars are colored with fall values.
Upon receipt of such a condition, a sell trade can be opened on the signal candle. At this moment, a downtrend is determined in the market. Close the current trade and consider opening a new one should be when the direction of the current trend changes, that is, when the opposite conditions are received from the indicator.
The ADX Crosses nrp Histo alerts indicator is a very powerful trading algorithm. The indicator is very easy to use and suitable even for beginners who can strengthen their skills by practicing on a demo account.