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T3 SATL Alerts Arrow MTF is presented as a small trading strategy, the calculations of which are based on the interaction of several forex indicators. The main work of the indicator is to determine the direction and strength of the current trend, as well as to determine the moment of opening trades, respectively. The indicator is displayed directly in the main window of the price chart in the form of a solid line that changes color and direction under certain market conditions, as well as arrows, the presence of which is regulated in the indicator settings. Based on the indicator values, the direction of the market movement can be determined, and at the same time, open certain position.
The T3 SATL Alerts Arrow MTF indicator can be used with any currency pair on any time frame, while the indicator is also suitable for multi-time frame trading.
Input parameters
The input parameters of the T3 SATL Alerts Arrow MTF indicator are quite advanced and are responsible for the performance of technical work by the indicator. In the Colors section, its visualization parameters can be changed.
-TimeFrame - parameter to use the trading timeframe. The default value is current.
-T3Period - T3 indicator calculation period. The default value is 8.
-T3Hot - smoothing of the T3 indicator. The default value is 0.7.
-T3Original - parameter to use the original line of the T3 indicator. The default value is false.
-Price - the type of price to apply to. The default value is Close.
-arrowsVisible - parameter for the presence of arrows on the chart. The default value is false.
-arrowsOnFirst - parameter of the presence of a signal on the first bar. The default value is false.
-arrowsIdentifier - An indicator that determines how the indicator's arrows are calculated. The default value is T3SATLarrows.
-arrowsUpperGap - distance of arrows with growth value from bars. Default value is 1.0.
-arrowsLowerGap - space between bars and arrows with fall value. Default value is 1.0.
-arrowsUpColor - the color of the arrows with the growth value. The default value is DarkGreen.
-arrowsDnColor - color of arrows with falling value. Default is Crimson.
-arrowsUpCode - visualization code for arrows with growth value. The default value is 241.
-arrowsDnCode - Arrow rendering code with falling value. Default value is 242.
-alertsOn - the option to have notifications when receiving alerts. The default value is false.
-alertsOnCurrent - signal parameter on the current bar. The default value is false.
-alertsMessage - option to receive messages when a signal is received. The default value is false.
-alertsSound - option to sound notification when an alert is received. The default value is false.
-alertsNotify - parameter to push notifications when the indicator is signaled. The default value is false.
-alertsEmail - Alert email on alarm. Default is false.
-soundFile - type of file used when receiving the signal. Default is alerts2wav.
-Interpolate - parameter responsible for using the indicator in multi-timeframe mode. By default, it is set to true.
Indicator signals
To open a certain trade using the indicator, to begin with, taking into account the color and direction of its line, the current trend is determined. Then, the moment of opening the trade, taking into account the direction and color of the formed arrow. If the indicator determines an uptrend, long positions are opened, if the trend is down, short positions. At the moment of change of the current trend, in both cases, trades are closed.
Signal for Buy trades:
- The indicator line is directed upwards and has a color with a growth value. An upward arrow is formed under it.
A buy trade, determined by the presence of an uptrend, which in turn is confirmed by the indicator signal, can be opened upon receipt of such conditions. The trade should be closed when the color and direction of its line changes. At this moment, a trend change is possible, which will allow considering opening new trades.
Signal for Sell trades:
- The indicator line is directed down and has a color with a falling value. An arrow pointing down is formed above the line.
A sell trade can be opened immediately upon receipt of such conditions on a signal candle. At this moment, a downtrend is determined in the market. At the moment of a trend change, that is, upon receipt of reverse conditions, the current trade should be closed and a new one should be considered.
Conclusion
The T3 SATL Alerts Arrow MTF indicator is a very effective trading algorithm, as the indicators included in it are very accurate and time-tested. Although the indicator is easy to use, preliminary practice on a demo account is recommended.
