Mr Red

This indicator first identifies trend direction and market sentiment and then it suggests an entry point in the direction of trend with specific Take Profit and Stop Loss by applying some filters.

Recommended Time frame: H1 & M30

Key Features

• No repaint.
• Optimized Stop Loss And Take Profit.
• Suggesting two Stop Losses (A main Stop Loss and a warning price).
• Suggesting two Take Profits.
• Suitable for scalpers, day traders and swing traders.
• Trade panel that displays the information of the last signal.

Indicator Parameters

• Sensitivity: The ratio of indicator's sensitivity to swings.
  • HighSensitivity: Signals are issued sooner. In other words it has high sensitivity to swings.
  • LowSensitivity: Signals are issued later. In other words it has low sensitivity to swings.
  • MediumSensitivity: Its sensitivity is between high sensitivity and low sensitivity.
• ShowRiskySl: A suggestion for Stop Loss ( in some case) to improve the risk reward ratio and maximize the profit.
• DailyAtrLevel: A level based on daily ATR, which shows at the signal moment to pull the trigger or not and also shows the expected return on signal day.
• DailyAtrPeriod: The period of DailyAtrLevel.
• InformationPanel: If true the last signal's features (entry point, Stop Loss, Take Profit, ...) is displayed.
• PanelSide: The direction of information panel.
• PanelTextColor: The color of panel text.
• PanelTextSize: The font size of panel text.
• alert: If ON the last signal will be displayed as an alert.
• EntryPointColor: The color of entry point level.
• StoplossColor: The color of Stop Loss level.
• TakeProfitcolor: The color of Take Profit level.
• TextSize: The text size of levels (entry point, Stop Loss, Take Profit, ...).
• LineWidth: The width of level lines (entry point, Stop Loss, Take Profit, ...).
• NumberOfBars: The number of bars that indicator is displayed on chart.