ATR Worm

ATR Worm

This indicator was designed with the help of JC_Bywan and Nicolas, whom all my thanks go to!

I am for most part a scalper (using specific strategies, which I cannot develop here).

This indicator allows me to define the moment to open a trade.

As well as a safe distance to the next peaks / troughs (that distance not being respected, the considered trade won’t be taken).

With 2 scenarios :

  1. Pattern validation with the next candlestick (e.g. a pinbar after a trend correction + validation by continuation of the movement with the next candlestick) ;
  2. Horizontal breakout.

In the case of the first scenario, I take the trade on the blue spot ;

In the case of the second one, I take the trade on the red spot ;

(Two dots for each, depending on the direction of the trade) ;

The blue and red lines define the necessary distance between the opening of the trade and the next peaks / troughs (minimum ratio risk / reward of 1:1 – based on a distance from the lowest / highest of the candlestick of 0.5 pips + an ATR of 14).

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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