Monster II Trend Trading Indicator
Monster II Trend Trading Indicator - is a further modification of Monster author's indicatorThe following is an article by a user of the forexsystemsru.com traders' forum with the nickname Crossluck.
Like the previous version, the Monster II indicator uses signals from three indicators:
- Momentum
- Moving Average
- Bollinger Bands
To the basic signals:
- The green bar of the histogram is an uptrend;
- The red bar is a downtrend;
- The absence of the bar is a flat;
additional inversion signals were added, allowing to open positions in the absence of basic signals. The indicator code has been simplified, and the MTF mode has been removed.
Monster II Trend Trading Indicator The indicator is set to trade in GBP/USD by default. To trade on other pairs the indicator requires additional configuration. It is recommended to use the indicator on timeframes H4 and above.