Discussion in 'Forex Indicators MT5' started by G JOSHI, Jun 24, 2020.

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  1. G JOSHI

    G JOSHI Administrator
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    Jun 12, 2020
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    PZ Lopez Trend 4.0 for MT5

    The Lopez Trend indicator tracks the market trend with an unmatched reliability, by ignoring sudden fluctuations and market noise. It has been designed to trend-trade intraday charts and small timeframes. Its winning ratio is around 85%.
    • Amazingly easy to trade
    • Find oversold/overbought situations
    • Enjoy noise-free trading at all times
    • Avoid being whipsawed in intraday charts
    • The indicator analyzes its own quality and performance
    • It includes a multi-symbol and multi-timeframe scanner
    • The scanner scans all the instruments in the Market Watch
    • It implements a multi-timeframe dashboard
    The indicator is suited to trade low timeframes, because it ignores sudden price spikes or corrections, by reducing market noise around a mean price.

    • The indicator needs no optimization at all
    • It implements a multi-timeframe dashboard
    • It implements email/sound/push alerts
    • The indicator is non-repainting and non-backpainting
    This indicator implements a trend-following orientation suitable for small timeframes that can permeate into very long trends in higher timeframes, amplifying your winnings.

    Anatomy of the indicator

    The Pz Lopez Trend indicator displays a colored line surrounded by a price band. The colored line is the mean price of the security, and the price band represents the overbought/oversold levels. If the mean price is blue you should be looking for long trades when the market is not overbought, and if the mean price is red, you should be looking for short trades when the market is not oversold.

    A trend change in the indicator is not a signal to trade right away and close opposite trades! The bands should be used for timing.

    Example Strategy

    There is a myriad of strategies which can be developed using the Pz Lopez Trend indicator, being the simplest of them a reversal system which trades only when the close price hits the mean price or the bands, thus avoiding trading when a sudden spike or correction takes place and the market is panicking.

    The rules can be summed up as follows. Buy during an uptrend when the price hits the mean price or oversold band, and sell during a downtrend when the price hits the mean price or the overbought band. This simple strategy will keep your losses to a minimum when the market is flat or jumpy.

    However, you can create your own trading strategies, as long as trades are taken inside the bands or close to the mean price. Almost any indicator can be useful in conjunction with the Pz Lopez Trend indicator without altering the value it provides: isolation from market noise.

    Additionally you can fine-tune the entry strategy using other discretionary price action ingredients, such as false breakouts, pin bars, fractals, candlestick patterns or breakouts. Just make sure not to buy above the overbought level, and not to sell below the oversold level.

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