MT4 indicator (ToR_1.20k.mq4)



Forex MT4 indicator Download indicator: ToR_1.20k.mq4

How to trade with ToR indicator


Trending or Ranging?
This indicator monitors CCI and ADX on multiple time frames to give you a sense of a trend and its direction.

When the market is trending - use trend following indicators, when the market is ranging use oscillators and other momentum indicators or avoid trading (according to your plan).

Reading ToR indicator:


Green color - the trend is up, red - down, blue - ranging.

Arrows next to the indicator show the angle of the trend:

45 degree arrow - a trend is beginning,
90 degree arrow - a strong trend in place.
The squiggly lines represent a range - no trend.

In the Indicator settings window you can define what's to be considered a trend for ADX (if needed, review the basics of ADX trading), and set own CCI periods for all time frames.





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Comments


How do you figure out which CCI periods are the right ones to use?

 

First you look at CCI on the higher time frames, I'd suggest CCI 14 for 1H and 4H.
Then you seek trading opportunities on smaller frames: 5 min or 15 min (use CCI 14 for regular, or CCI 6 for aggressive entries). If you want to trade with 1 min time frame, use CCI 50.

 

Hi ppl am a novice about forex trading... After forex news release,in 15 minit timeframe do i need or suppose to wait for 15minit be entry the market???,1hour i'l wait for another 1hour,4hours i'l wait for another 4hours and so on ..?? pls Thanks

 

help is this indicator just for breakout???

 

which time frame is best plz tell me

 

Can you please explain to me what downhill/Uphill means?