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The main purpose of the All-in-One Trade Indicator (AOTI) is determining the daily targets for EUR/USD, GBP/USD, EUR/GBP and EUR/JPY. All other modules work on any instruments. The indicator includes many features: dual-channel trend direction, price channel, MA bands, Fibo calculation, etc. The indicator is designed to simplify the analysis of the market, and it is based on several trading strategies that I apply to real accounts. New pairs for calculating the daily targets are planned to be added.
Features of the All-in-One Trade Indicator (AOTI)
- Plotting daily target levels for EUR/USD, GBP/USD, EUR/GBP and EUR/JPY. It uses the peculiarities of the price movement, correlation of pairs, analysis of the price movement speed, its volume and spread. The indicator calculates the levels on different timeframes and pairs, checks their status and strength, after that it shows the optimal levels for the current day.
All the following functionality is suitable for any instrument:
- Double channel for quick identification of the current trend. The slow channel shows a more significant trend. The fast one indicates the short-term tendency.
- The Price Channel shows the limits of price extremums.
- Fibonacci levels to determine the targets of the movement and price rollback values.
- MA Bands helps in determining the trend strength and the exit points.
- Support/resistance micro-levels signal the end of the trend and a possible reversal. A breakout indicates a possible continuation of the movement. Their priority is lower than the arrow signals.
- The arrows show the reversal points of the short-term trend. They have a higher priority than micro-levels. Their signals can be used as entry points for scalping.
Important: to determine the levels, the terminal must be connected to your broker. The following additional pairs must be present in the Market Watch window: EUR/USD, GBP/USD, EUR/GBP, USD/CHF, EUR/JPY, EUR/GBP. You do not have to open their charts! Due to this peculiarity, the function for determining the daily targets is only available in real time!
Description of the Daily Levels (Targets)
- Forecasted Entry Level – forecasted entry level.
- Breakeven – the level, at which the stop loss can be moved to breakeven.
- Today TP – daily take profit level.
- Today SL – stop loss level.
Additional levels (activated by the Add. Levels button in the control panel):
- First TP – the first (initial) take profit level.
- MaxTP – the maximum allowed take profit level (for a very volatile market).
- GMTShift Auto Detection – automatic detection of GMT Shift (does not work on weekends).
- GMTShift If ‘GMTShift Auto Detection’ = false – value of GMT Shift, if the automatic detection is disabled.
- Show Additional Levels – additional levels (First TP / Max TP).
- ArrowDelta – distance of the arrows from the price, in pips.
- Bars2Check – if your computer is not very powerful, you can limit the number of bars for calculation.
- LongRegChanSBar, ShortRegChanSBar – the number of bars for calculation.
Price Channel Settings:
- PriceChannelPeriod – smoothing period.
Fibonacci Level Settings:
- FiboBarsCount – the number of bars for calculation.
- Activate the automatic chart color setup – set the template automatically.
- Activate to scale levels – scale the screen so that all levels are visible on the screen (available via the Level Scale button in the control panel).
The Reset button on the chart for emergency recalculation of levels in the case of manual intervention in the operation of the indicator.
Peculiarities of Usage
- The price tends to the Today TP level.
- If the price is too close to the Today TP level, it is better to either skip the trade or to wait for additional confirmation.
- If the calculated loss level significantly exceeds the potential profit, consider skipping such a trade.
- Scalping is possible in the direction of the main trend till the Today TP level.
- When scalping, profit of a whole position or its part can be fixed at the micro-levels.