Forex Trend AVG INDICATOR
the regTrend AVG indicator calculation is based on regressing the current market trend and its output is the area of the possible pullback of the current trend. It consists of two lines:
* White line, returning the value of the current trend. The higher the value, the stronger uptrend is in place and vice versa.
* Yellow line, returning the value of a simple average of the white line. The values above zero signals stronger long-term uptrend, while values bellow zero mean stronger long-term downtrend.
* We recommend opening the buy trade when white line crosses the yellow line from above and opening the sell trade when white line crosses the yellow line from bellow.
* You can filter Your trades in the way that you buy only if yellow line is above zero (during the uptrend), ie. buying on the dips; and you sell only if yellow line is bellow zero (during the downtrend).
* Set your StopLoss slightly above (bellow) the previous swing high for the sell orders (low for the buy orders). Should the size of the loss be too high (big swings, high volatility), dont open the trade.
* Set the Profit Take to be at least at 1:1 ratio to StopLoss
* It is possible to adjust the indicator according to currecny pair, commodity type or timeframe used
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