This is a very reliable indicator that generates accurate entry and exit signals.
The algorithm script is based on a momentum strategy and depends on a volatility smoothing technique to filter noise and false signals. The smoothing technique will create fewer low-quality signals and avoid false signals if the trend is in a weak phase.
The Trading Edge indicator works very well for all instrument types and timeframes. It can be used for regular long and short entries/positions, as well as for swing trading strategies.
How to use: 1. Use on any instrument and timeframe (finetune Settings). 2. When ‘Long’ signal is confirmed (Blue triangle, up ▲) –> enter Long position. 3. When ‘Short’ signal is confirmed (Red triangle, down ▼) –> exit Long position (or go Short). 4. Exit also when -> trade hits your profit target/limit or stop loss (determined by user). IMPORTANT: Wait for candlestick close to ensure signal is a confirmed signal!
Exactly how the indicator is used varies from trader to trader. It can be used as a scalping tool in shorter timeframes, but also as a timing indicator for day trading or swing trading strategies, where you get accurate and profitable entry and exit signals for all timeframes. If you use it to trade very low or high timeframes, you may need to finetune the filter settings a bit to optimize it for your trading style. This indicator has been developed to work with regular bar candles, but we also recommend you to use it with Heikin Ashi candles to filter out as much noise as possible and as these often have an improved ability to capture high-quality trends.
⚠ If you are new to trading and/or technical analysis in general, we always recommend a demo account (“paper-trading”) until you become familiar with how to use the indicator.
The Trading Edge is a non-repainting indicator (meaning that signals do not change or disappear after bar close). When using the Alert function, use the “Once Per Bar Close” configuration and wait for bar close to confirm entry/exit signal.
m7mdabdulaleem