Ku Klux Indicator - Market Entry and Exit Points
Hello, forex traders! We all know and use technical analysis in trading. Most other market participants do the same. From this we can conclude that the price movement of the previous day influences the current day, as a result of changed technical analysis data. That means we can calculate optimal market entry and exit points based on yesterday's volatility and the trend direction. The precise Ku Klux Forex indicator will help us with this.
Characteristics of the Ku Klux Indicator
Platform: Metatrader 4
Currency pairs: EURUSD, GBPUSD, AUDUSD USDCHF, EURJPY
Timeframe: from M5 to H4
Trading time: European, American, and Asian sessions
Recommended brokers: Alpari, Roboforex
Installation
The indicator is installed according to the standard instructions; no additional manipulation is required. The timeframe must be below D1; on higher TFs, the levels showing entry and exit points will not be displayed.
Description of Settings
- Level_Width - allows you to change the thickness of the levels, adjustable from 1 to 5. The higher the value, the thicker the level.
- Text_Font_Size - font size. Set from 8 to 16.
- Level_Text_Shift - level shift. A positive value shifts to the right, a negative value to the left. The specified number corresponds to a distance equal to the number of candles on the chart.
- Extend Lines - dotted line. Extends the levels until the day opens.
- Show Daily Open - white level. Shows the session opening price.
- Number of Days - number of days in history on which levels are displayed. The maximum value is 22.
- Daily Open Setting - this setting allows you to change the indicator's working day (session), the time when new levels begin to form. 1 - broker time, 2 - Australia open, 3 - Tokyo, 4 - New York midnight, 5 - Europe open, 6 - London, 7 - New York.
- Show_Trend - shows the trend direction.
- Show_Clock - allows you to turn on the clock in the upper left corner. Shows computer time, broker time, New York time, and GMT.
- Clock_Vertical_Position - changes the vertical position of the clock.
- Corner display - allows you to choose in which corner to display the indicator name and trend direction. By default, 0 - upper left corner, 1 - upper right, 2 - lower left, 3 - lower right.
Entry and Exit Rules
Pending orders are placed. A buy order is set at the Buy level, and a sell order at the Sell level.
For buy positions, we place the stop-loss at the BSL level, and for sell positions at the SSL level.
For long positions, the first profit target is set at the BT1 level, and the second target at the BT2 level. When the first target is reached, we partially close the position and move the stop to breakeven. For short positions everything is similar: the first target is at ST1, and the second target is at ST2. Closing a position in parts was covered in the lesson MT4 Secrets.
Additions to the Indicator
Ku Klux is not a ready-made strategy. Like any other indicator, it is not recommended to use it in its pure form. Additional filtering of entries is required to improve your chances of a reliable result.
Download the Ku Klux Forex Indicator
Important! Installation Nuances in New MetaTrader 4 Builds
Best regards, Andrey aka topepo241 TradeLikeaPro.ru
Hello, forex traders! We all know and use technical analysis in trading. Most other market participants do the same.