Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
The Th3Eng Ninja indicator is based on an analysis of the right trend direction with perfect custom algorithms. It show the true direction and the best point of the trend. With Stop Loss point and Three Take Profit points. Also it provides a secondary entry points in dots arrows style.
And Finally it draws a very helpful lines from entry level to TP1, TP2, TP3, SL levels or the reverse signal, and all current/old signals status.
How to use the indicator
No complicated steps, Just follow 2 simple steps;)
#1 Open Position
- Enter the signal when the indicator shows the arrow.
#2 Set Stop Loss
- Exit the BUY signal on a new SELL signal.
- Exit the SELL signal on a new BUY signal.
#3 Set Take Profit
- Take Profit at TP1 line, And close your position. (Better)
- Partial close at TP1 and close remaining position on TP2.
- Close the position at the new opposite Signal.
General Setting
Factor: Is the sensitivity factor number of the indicator. That you can change it from 0.01 .
TP2 factor: The TP2 level calculating factor (reduce it if you want it near by the entry level, increase it if you want to trade a long term trade)
History: maximum number of bars used for calculation and drawing.
Auto setting: true by default, when enable it let the indicator set the best setting (Factor) for the current opened chart.
Show main arrows : To show the main signals entry arrows.
Show second entry arrows : To show the secondary signals entry arrows.
Show TP levels : To show the three take profit levels.
Show SL levels : To show the stop-loss level. when it be false, the indicator close the signals when find a new reverse signal (close buy by sell and close sell by buy).
Show signal status: To show all signals result status on the chart.
Show all signals statistics: To show all signals statistics (win ratio, loss ratio, total profit in pips)
Calculate statistics at TP2: To calculate the signals statistics with tp2, if it be false the indicator will calculate with tp1
Alerts Section ==> controls the alert options enabled.
- Recommended time frame: M15
- You can follow the below recommended setting if you want, or use your own!
BITCOIN SETTING::
- PERIOD FACTOR ==> 75.00
- TF==> M15
US30 SETTING::
- PERIOD FACTOR ==> 120.00
- TF==> M15
WTI (OIL) SETTING::
- PERIOD FACTOR ==> 0.5
- TF==> M15
XAUUSD (GOLD) SETTING::
- PERIOD FACTOR ==> 3
- TF==> M15
- TF==> H1 Period factor=4
ALL gbp family (without eurgbp) SETTING::
- PERIOD FACTOR ==>2 TF==> M15
- PERIOD FACTOR ==>3 TF==> H1
ALL EUR family (without euraud and eurcad) SETTING::
- PERIOD FACTOR ==>1 TF==> M15
- PERIOD FACTOR ==>2 TF==> H1
- euraud and eurcad same the gbp family setting.
