Elder's Three Screens Indicator: Indicator for Analysis with Alerts
Three Elder screen indicator uses a strategy developed by the famous trader Dr. Alexander Elder, which involves entering the market based on the analysis of currency pairs at three timeframes.
Elder's Three Screens indicator works on six currency pairs and displays indicator readings on the price chart MACD, EMA and Stochastic from several timeframes in the form of colored rectangles.
Interpretation of the readings of the indicator Three Elder screen:
- green is an uptrend;
- red - a downtrend;
- yellow - the trend is absent.
Based on the indicator readings from the selected timeframes, the Elder's Three Screens indicator gives recommendations for entering the market as a text message in a separate window, which is accompanied by a sound signal and sending a message to e-mail.
In the parameters of the Elder's Three Screens indicator, you can configure the display of each indicator on the chart, as well as its time interval in minutes.
According to ForTrader.org experts, Three Elder screen indicator will greatly simplify trading for traders who use this principle, however, it should be perceived more as an informational than a signal indicator and use its signals to analyze the currency pair, not as a direct guide to open positions.
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