Forex Indicator LSMA Dots.mq4

Indicator Input Parameters:

extern int Rperiod = 34; // adjust the sum relative to the candle price close 

➤  Potential Trade Strategy:

Trade Set Up: Long Trades - Wait for dot to change from red to yellow or green. Short rules are opposite. 

Entry:  Long signal is at the break of the candle high (break of the first candle showing yellow or green).

Exit: Close half of your trade at +1 reward. Move what's left to break even +. Continue to move your stop as price moves upward. Initial stop is at low of first green dot candle. If candle that breaks the green dot candle has a lower low, then set your stop loss there. The remaining half of your trade can be trailed, moved to the low of each higher closed candle, or exit when dot color changes.

Lower Rperiod values tighten the dots with price closing values. A larger value will smooth it out which is more ideal for traders wanting to follow larger trends when they develop.    

✍ Strategy Author: Jon from MakeBetterTrades.com has strictly traded the Forex markets since 2004. On the side he also codes many of our leading "high tech" indicators to fill in the gaps that many charting programs have failed to provide. His personal quote regarding Forex markets is, "Price is like the Matrix. It is YOU that must learn to bend".    

➥ Indicator Download LSMA_Dots.mq4