MTF MCP Scanner Info Indicator
MTF MCP Scanner Info Indicator for the MetaTrader 5 trading terminal is a panel that allows traders to determine which way to trade selected currency pairs on specified timeframes.
MTF MCP Scanner indicator generates signals based on standard ADX indicators, Stochastic, WPR and custom StochasticRSI.
When directions match on each of the selected timeframes of a currency pair, the MTF MCP Scanner indicator displays an additional alert.
MTF MCP Scanner indicator logic
Uptrend:
- +DI is higher than -DI;
- %K Stochastic line above %D Stochastic line and %D Stochastic line below overbought Stochastics;
- %D Stochastic RSI line is below the overbought level of Stochastic RSI;
- RWI is below the overbought level.
Downward trend:
- -DI is higher than +DI;
- %K Stochastic line below %D Stochastic line and %D Stochastic line above it oversold Stochastics;
- %D Stochastic RSI line is above the oversold level of Stochastic RSI;
- RWI is above the oversold level.
For convenience, MTF MCP Scanner informational and signaling indicator for MT5 can be moved with the mouse to any place in the basement of the price chart and has 48 parameters for customization.
Download MTF MCP Scanner information and signal indicator
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