Trade Filter I

Trade Filter 1 is a versatile indicator for working on classical charts.

Depending on the settings, the indicator defines market entry points from zones to individual bars. It can be used both as a trend filter and for detecting corrections.

Blue zones hint at a possible bullish reversal, while red zones - at a bearish one provided that entry filtration is configured properly.

The moving average serves as a reference point for the average price impulses and can be used as an additional criterion when deciding on entering the market.

The product is based on Trade Filter X indicator. It is recommended to use it in conjunction with other indicators in the trading strategy.

Parameters

• per - indicator calculation period.
• ma - moving average period.
• typebar - filtration by bar type (only up bars are taken into account for defining a bearish reversal, while only down bars are used for defining a bullish reversal).
• typeset - filtration by price label location on brief history.
• sizebar - cancel the typebar filter if a bar is less than a specified value (in points).