PZ Swing Trading – indispensable tool for swing trading
PZ Swing Trading is an indicator designed specifically for swing trading. It unerringly identifies swings in the direction of the trend and possible reversals. Algorithm of indicator PZ Swing Trading analyzes several vectors of price and time, and by results of analyzes determines the final direction of the trend. The indicator also determines overbought and oversold conditions of the market and its possible correction.
A bit of theory. What is trading on swings? It's a style of trading when the trading positions open from one day to a week (sometimes longer). Swing traders use technical analysis to buy when the currency pair is weak, and sell when it is strong. Thus the trader must have the patience to wait for the onset of such a moment, because to buy just makes sense after a wave of sales rather than in the period of sale.
Characteristics of PZ Swing Trading
- Platform: Metatrader4
- Currency pairs: Any currency pairs (recommended Major)
- Trading Time: Around the clock
- Timeframe: D1, W1
- Recommended broker: Roboforex, XM, Tickmill
Trading rules
PZ Swing Trading displays on the graph swings in the direction of the trend, as well as local reversals. The trader can only open the corresponding position on the basis indicator readings:
Indicator Settings
- TrendPeriod - parameter controls the price threshold for trend changes: set a higher value to track longer trends.
- SwingPeriod - parameter represents the size of the opportunity baseline on the chart: increase it to trade using a bigger opportunity band and decrease it to make it smaller.
- MaxHistoryBars - parameter controls how many past bars are examined to minimize memory usage, and finally, you can enable or disable signals for swings and reversal swings.
- Drawing Settings - сhoose your own colors and sizes for arrows and reversal dashes.
- Alerts - уnable display/email/push/sound alerts for patterns.
In the archive PZ_Swing_Trading.rar:
- PZ_SwingTrading.ex4
- PZ Swing Trading.tpl
Free Download PZ Swing Trading
