The EliteTrader PRO Indicator is a robust trading system designed specifically for the MetaTrader 4 (MT4) platform. Whether you’re a seasoned trader or just starting out, this indicator provides NON-Repaint buy/sell signals to enhance your trading decisions. Let’s dive into the essential details:
Key Features:
1. Accurate Trend Detection
- The EliteTrader PRO excels at capturing significant market trends. It identifies potential entry and exit points, allowing you to ride the waves of price movements.
2. User-Friendly Interface
- With advanced algorithms and an intuitive design, the EliteTrader PRO is suitable for traders of all levels. Its non-repainting nature ensures consistent signals in real-time.
3. Trading Manager EA
- The EliteTrader PRO Indicator includes an innovative trading manager. This expert advisor (EA) aids in opening, tracking, and managing trades. It’s compatible with various trading techniques, enhancing your decision-making process.
4. Timely Alerts
- Don’t miss out on trading opportunities. The EliteTrader PRO offers standard MT4 pop-ups, email notifications, and push alerts for mobile devices.
5. Customizable
- While the EliteTrader PRO Indicator produce signals, the trader decides when to enter the market and sets protection or profitable exit stops. Familiarity with risk-reward principles is essential.
6. Versatile Pair Compatibility
- Use the EliteTrader PRO on any currency pair or other assets like stocks, commodities, cryptos, and precious metals. It adapts to your preferred time frame, from 1-minute to 1-month charts.
Trading Strategy:
ADR Reversals Strategy
- Concept: The EliteTrader PRO leverages the Average Daily Range (ADR) of currency pairs. Research shows that most instruments trade within their ADR approximately 58% of the time.
- Entry Points: When price extends beyond the normal ADR (set at 100% in the provided set file), the EA identifies potential reversals. If the ADR high is hit, the EA takes a short position; if the low is hit, it takes a long position.
- Risk Management: The EA gradually increases lot sizes as positions are taken, allowing for faster exits during drawdowns.
- Optimization: While the provided set file has been backtested on GBPUSD (M5), consider testing it on AUDUSD to adapt to your preferred currency pair.
Remember, trading involves risk, and past performance is not indicative of future results. This bot could be your ticket to success—so trade wisely and soar in the Forex world!
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