MT4 indicator (ZoneTrade_v2.4.mq4)
How to trade with ZoneTrade indicator
The ZoneTrade indicator is written based on the Bill Williams' trading approach, which he calls "trading in the zone".
ZoneTrade indicator helps to maximize/double/triple profits when the market goes your way, namely, when momentum, acceleration and price confirm that you have favorable conditions for trading. Armed with this information you can be more aggressive when trading in the "Zone".
On the chart below:
The zone is green if both AC and AO are green.
The zone is red if both АС and АО are red.
The zone is gray if АС and АО colors are different.
(If you use candlestick charts, switch them to Bar charts, or even make candlesticks invisible by matching the color of the background).
A few tips from B.Williams
From Williams' book "New Trading Dimensions":
While trading aggressively in the Zone, you should know when to stop adding new positions. Keep in mind that the market by its nature is a series of up and down waves and it's unusual for it to have more than 6 or 8 bars of the same color.
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