Magneto
Description
Magneto Pro – an indicator for MT4 trading platform.
This indicator builds (alternate, mathematically calculated) support and resistance levels as well as levels, which is likely to come in the near future the price.
It should be noted that the calculation is made on the level of historical data, and the quality of quotations plays an important role in the construction of the indicator lines.
I note that that were drawn Magneto Pro and Magneto Weekly Pro lines do not change their values throughout the accounting period.
The use of indicators
Magneto Pro can be used as a complement to the existing strategy, and as a self-contained trading strategy. This product consists of two indicators based on different periods of time, and is designed for scalping intraday (indicator Magneto Pro) And within a week (Magneto Weekly Pro).
Options
- Percent – the main parameter. Calibration of all levels depends on this value.
- Future time – time (in minutes) of the start indication of the level predicted for the next day.
- History (days) – a number of days to display on the chart.
- Brick length – block length in days.
- Magnet color – the color of the target level line.
- Magnet width – line width of the target level.
- Magnet style – style target level line.
- echo color – color line support / resistance level.
- echo width – level width / R line.
- echo style – style levels of support / resistance lines.
- Echo1 width – level width / R line.
- Echo1 style – style levels of support / resistance lines.
- Echo2 width – level width / R line.
- Echo2 style – style levels of support / resistance lines.
- Boomerang color – color line support / resistance level.
- Boomerang width – level width / R line.
- Boomerang style – style levels of support / resistance lines.
- Sell zone color – color line sales area.
- Buy zone color – color line shopping zone.
- Buy Sell zone width – linewidth of sales / purchases zone.
- Buy Sell zone style – style line sales / purchases zone.
- Future color – color line projected target level.
- Return point indicator – show the pattern of return (check).
- Sensitivity – sensitivity (in points) of the pattern of return.
Examples patterns and
The pattern of “Break”
In case of serious breakdown level appears red flag, signaling the likelihood of a return to this level.
- Probit level 2, there was a return to the level in a day.
- Probit level 4, there was a return to the level in a day.
- Probit level 5, returns to the level at the point 8.
- Reached and breached the target level of 7, returning to the level of the next day.
- Reached and breached the target level of 10, return to the level in the same day.
- Breakdown at the level of 12, return to the level in the same day at 13.
Pattern “target level”
1, 3, 4, 7, 9, 10, 11 – white target levels, a kind of magnet for the price. Perhaps the main pattern of the indicator. As you can see, the price has not reached the point 3, but returned the next day and you will notice that this level has become an important – not just the price subsequently returned to him, and from the bottom, and top. color indigo line – a projected target of the next day, this level can change its value to 00:00 terminal time, then fixed and becomes white. The work at this level should be conducted with caution and only in quiet, to the flat market! It works similarly indicator Magneto Weekly Pro.
Just get a fairly accurate idea of the possible price reversal (a retreat from the yellow, white and thin green line – a kind of support and resistance levels). And another nice thing for those involved in long-term trade – any of the main levels can be virtually error-free point of “topping up” with the trend.
Recommendations and afterword
This indicator is not an axiom for trading in the Forex market. There is only formalized in a code of conduct subjective vision of prices based on the statistics revealed by the author working out levels. I sincerely hope that each user Magneto Pro, finds its “golden” patterns and patterns, using the given resources. Be careful when averaging open positions and observe the MM!
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