To refine signal quality, it provides three optional filters: an ATR filter to cap maximum candle size relative to volatility, a swing high or low filter over a configurable lookback window, and an EMA filter to ensure trades align with the trend direction. Detected bullish and bearish signals are drawn with green upward or red downward triangles on the chart, along with an optional EMA line.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Max Candle Size
float
1.0
maxAtrSize
Use ATR Filter?
bool
false
useAtrFilter
EMA Length
int
50
emaLength
Use EMA Filter?
bool
false
useEmaFilter
Swing High/Low lookback
int
10
lookback
Use Swing High/Low Filter?
bool
false
useHighLowFilter
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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