Trading strategy using the TRO MultiPair indicator
Determining the trend is the most important task of any trader trading on the trading platform or Forex.
However, each exchange player often sees the direction of the trend in his own way, since for some on the minute chart the sequence of rising candles indicates an upward trend,
And for another, this segment may be the shadow of one of the downward candles on the hourly chart.
Actually, a completely logical question arises: who exactly is right and how did they correctly determine the trend?
This is why many traders often enter the market against global trends, because they do not see what is happening on higher time frames.
Actually, for the first time, he proposed solving the problem of entering the market against the global trend Alexander Elder, publishing your own trading strategy in which the signal is verified on older charts.
Since then, practically nothing has changed, and his method of identifying trends on all possible time frames remains effective to this day.
The TRO MultiPair indicator is a complex complex indicator that tracks the direction of the trend on several currency pairs simultaneously, and also displays the trend on different time frames using a scale.
TRO MultiPair allows you to monitor the market situation for several currency pairs simultaneously, which allows you to conduct multi-currency trading without switching between charts. The indicator can be used on any currency pair and chart, and when switching time frames, the readings are not redrawn.
Installation of TRO MultiPair
As we have already mentioned, TRO MultiPair is a complex integrated tool that uses a number of secondary indicators in its readings, without which TRO MultiPair will not display information on the chart.
That is why you will have to install TRO MultiPair into the MT4 trading terminal along with other secondary tools. Secondary indicators do not need to be plotted directly on the chart, but they must be present in MT4.
To install it into a trading terminal, you must download the archive of indicators at the end of the article, and then drop the indicators into the appropriate directory of the terminal data directory. To access the data directory, go to the file menu.
A menu will appear in front of you, among the options of which click “data directory”. Having launched the directory, you will see a list of the terminal’s system folders, among which find the folder called indicators and dump all previously downloaded files into it.
Next, simply restart the trading terminal and TRO MultiPair will appear in the list of indicators. To start using the tool, drag TRO MultiPair onto the chart.
Trading strategy
The TRO MultiPair indicator displays the direction of the trend on different time frames, and practically uses three indicators simultaneously. If we talk about the application strategy, then trading comes down to receiving an impulse signal with its further processing.
In order to enter a buy position, the majority of points on almost all time frames must be green or blue. It is worth paying attention to the line under the points, which displays in numerical equivalent the number of points for an upward and downward trend.
For a sell position, almost all time frames should be downward trend, which is confirmed by yellow and purple dots on the scale. It is worth noting that the indicator emits a sound signal at the moment of the best entry point.
Also, the TRO MultiPair indicator is an excellent filter for an already formed trading strategy, since with its help you can enter the market in the direction of global trends and cut off false signals.
TRO MultiPair indicator settings
The TRO MultiPair indicator has a wide range of settings, but in most cases they are all responsible for the visual display on the chart. So in the pairs line you can list, separated by commas currency pairs information that you would like to see directly on the chart.
In the timeFrames line you can list the time frames, trend information that you need and will be displayed on the chart. The myAlert line allows you to turn on or off the sound alert, and the ShowCount line is responsible for displaying summary information under the table with points.
In conclusion, I would like to note that the trading strategy on the TRO MultiPair indicator is intuitive and boils down to implementing strong price impulses that lead to the same trend display on all time frames.
It is also worth understanding that to increase the effectiveness of the strategy, it is best to use the TRO MultiPair indicator with another technical or fundamental analysis tool in pairs. Technical analysis indicators - http://time-forex.com/indikators
Download the TRO MultiPair indicator.