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I also had many indicators from this guy, and really never give them the proper importance, right now I'm testing this Indicator, with my own settings, added some other filters and it ( system) looks great, but "patience" is a virtue that I don't have and IF I can get the scanner, it will be tremendous help....

Note; tried to upload some charts, but it can't show, the url link is https://ibb.co/89rmNnT

(05-04-2021 12:20 PM)New Year Wrote: [ -> ]I also had many indicators from this guy, and really never give them the proper importance, right now I'm testing this Indicator, with my own settings, added some other filters and it ( system) looks great, but "patience" is a virtue that I don't have and IF I can get the scanner, it will be tremendous help....

Note; tried to upload some charts, but it can't show, the url link is https://ibb.co/89rmNnT

Seriously... Try the MTF Alligator available for FREE through the MT4 platform itself. I wouldn't trade without it. It's easily as good as ANY scanner I've ever seen for MT4... And most have been worthless.

At the bottom of your MT4 Platform? Click on the "Market" tab.

When that section OPENS? Click on the "Indicators" tab.

On the bottom right of the MT4 Platform, where the drop down says, "Most rated" by default? Choose "Free."

This shows you ALL the FREE indicators available for MT4.

In the search window to the right of the drop down menu? Type in:

MTF Alligator

And it should clear everything out of there and just show that indicator. You can change the colors to suit your own trading. It's at the top right hand corner of my platform. You can play with the distance settings to put it where you want.

See this image...


The MTF Alligator is based on Bill Williams' Alligator:


I think it's one of the best Trend indicators I've ever seen or used. I don't like using the basic version of it on my chart because don't like dealing with the Jaw, Teeth, and Lips but overall? It's one of the best if not the best Trend indicators there is. Which is why I use it as confirmation of the trend on the different timeframes.

Basically? If I'm on the 4 Hour chart or any other chart... I want to see the chart BEFORE my trading timeframe and the chart AFTER my trading timeframe to all be ONE color.

Why jump into a 4 Hour chart buy trade when the 1 Hour Chart is going down? I use this indicator to WAIT until all three timeframes are in SYNC.

Like I said... I've used a ton of scanners and none of them work as well as the MTF Alligator. Give it a shot!

*NOTE: You must have an account on the following website:


In order to download both free and paid indicators. And? You must be logged in to download.

Good luck!

jack

Thank You for your advice, I have already the MTF alligator, but I use other Indies for Trend trading... when I said "scanner" I was thinking in a multipair scanner to help me get the right signal at the precise moment, and then, analyze the pair if it is tradable or not. Already I can get the version 6 with the scanner for $26.00 but I need Bitcoin for the transaction .Risky, can work, can't work. Maybe if a choose to follow this system in the future I'm going to try to get it.

You advice is very utile to people that lacks a proper trend indicator, Thanks

Thank you for this share....Are you using a stop loss order with all of your trades? If so, can you briefly described your stop-loss strategy if the trade goes against you? Is it a percentage loss based on your original investment stake in the trade...if nothing else...

thanks for the share

(05-05-2021 09:16 AM)dealmein923 Wrote: [ -> ]Thank you for this share....Are you using a stop loss order with all of your trades? If so, can you briefly described your stop-loss strategy if the trade goes against you? Is it a percentage loss based on your original investment stake in the trade...if nothing else...

Yes... I always use a stop loss. This particular indicator makes setting your stop loss EASY. On a sell trade, your stop loss is FLUSH with the TOP of the breakout box.

On a buy trade, your stop loss is FLUSH with the BOTTOM of the breakout box.

My take profit is always at least 1.5 TIMES the amount of pips from where I entered the trade to the stop loss. There are times however, when I'll be IN PROFIT and the trade simply won't break through a support or resistance area so I'll go ahead and close the trade after price fails to break through. I usually give it three or four tries. If the trade can't break through the support or resistance barrier and goes the other direction? I'm OUT.

If the trade goes against me right off the bat? I'm OUT.

Just BUMPING this post for those of you LOOKING for a more updated version of this indicator along with the Scanner. I managed to find 6.0. I've edited the FIRST post to now include the download url of the updated indicator and scanner.

Good luck!

jack

(05-15-2021 05:12 AM)jackpinion Wrote: [ -> ]Just BUMPING this post for those of you LOOKING for a more updated version of this indicator along with the Scanner. I managed to find 6.0. I've edited the FIRST post to now include the download url of the updated indicator and scanner.

Good luck!

jack

Hi thank you for the nice share. Any setting to remove unwated instruments on the scanner?

I didn't see any settings that would allow you to add OR remove any particular instruments which, in my opinion, is where the scanner is lacking.

The only thing I saw was setting true or false to the specific time charts.

Having said that? If you create a template with this indicator and open that template up with all the different currencies you're trading and of course enable alerts and notifications? You'll essentially have a system that alerts you to breakouts.

(05-17-2021 05:40 AM)jackpinion Wrote: [ -> ]I didn't see any settings that would allow you to add OR remove any particular instruments which, in my opinion, is where the scanner is lacking.

The only thing I saw was setting true or false to the specific time charts.

Having said that? If you create a template with this indicator and open that template up with all the different currencies you're trading and of course enable alerts and notifications? You'll essentially have a system that alerts you to breakouts.

I agree same thing, never the less thank you one more time.