Day Trading 7.0

Name: PZ Day Trading Indicator for Metatrader (MT4/MT5)
Price: 175 USD
Author: Arturo Lopez Perez

Metatrader 技术指标 (MT4/MT5)

ℹ 概述
This indicator detects price reversals in a zig-zag fashion, using only price action analysis and a donchian channel. It has been specially designed for short-term trading, without repainting or backpainting at all. It is a fantastic tool for shrewd traders aiming to increase the timing of their operations.
- Amazingly easy to trade
- It provides value on every timeframe
- Chart statistics will help you to optimize your trading
- It implements a multi-timeframe dashboard
- It includes a multi-symbol and multi-timeframe scanner
- It implements email/sound/visual alerts
Based on breakouts and congestion zones of variable lengths, the indicator uses only price action to pick trades and reacts to what the market is doing very fast.
- The potential profit of past signals is displayed
- The indicator analyzes its own quality and performance
- Losing breakouts are highlighted and accounted for
- The indicator is non-backpainting and non-repainting
This indicator will help intraday traders not to miss a single price reversal. However, not all price reversals are created equal nor have the same actionable quality. Deciding which breakouts to trade and which to ignore depends on the good judgement of the trader .

How to interpret the stats

The indicator studies the quality of its own signals and plots the relative information on the chart. Every trade is analyzed and the overall historic results displayed at the top-left corner of the chart.

Maximum Favorable Excursion (MFE)

The MFE is the best possible outcome for any given trade.
The average MFE is displayed at the top-left corner of the chart.

Maximum Adverse Excursion (MAE)

The MAE is the worst possible outcome for any given trade.
The average MAE is displayed at the top-left corner of the chart.

Average Absolute Expectancy (AAE)

The AAE is the absolute excursion you can expect for any given trade, obtained by subtracting the MAE from the MFE, which reflects the true quality of the entry strategy. In other words, the entry strategy is measured by the relationship between the average best possible outcome and the average worst possible outcome.

The indicator displays the best possible outcome and the worst possible outcome for every trade using two dotted lines and two price labels, and account every single one of them into the statistics you can find at the top-left corner of the chart. You can use those statistics to optimize the indicator parameters by yourself, for any given instrument and timeframe.
≡ 输入参数

将专家加载到任何图表时，您将收到一组选项作为输入参数。不要绝望，如果你认为他们是太多，因为参数被归类成不言自明的块。

Range

The range is the minimum amount of bars broken to consider a breakout valid and draw a signal. As you go down in timeframes, you need to increase this parameter. For example, to trade monthly charts a range of five is good, but to trade H1 charts you would need a range of at least 20-25 bars.

Filter

The function of the filter is to separate alternative signals from each other, using a donchian channel and a multiplier of the price range it creates. A higher filter will decrease the amount of signals in the chart but, in average, increase the maximum favorable excursion.

Max History Bars

The amount of past bars to evaluate when the indicator loads. Decrease this value to speed up loading of the indicator.

Dashboard:

Enable or disable the multi-timeframe dashboard widget.

Statistics

Enable or disable the statistics widget. Use the stats to find the best parameters for each symbol and timeframe. Incrementally change the input parameters of the indicator until you find the higher accuracy and expectancy possible.

Display boxes

Display or hide the colored boxes around the breakout price range.

Fill boxes

Choose wether the inside of the breakout box is filled with color.

Trade Analysis

Enable or disable the individual trade analysis in the chart.

Alerts

Enable display/email/push/sound alerts for breakouts.
? 常见问题

Does this indicator nail tops and bottoms of the market?

No, it does not. There is no magic here. The indicator reacts to tops and bottoms which meet certain price patterns.

Are you completely sure it does not repaint or cheat?

Yes, the indicator does not repaint or cheat in any way. In the video there is a visual backtest, in which you can see that signals appear as soon as the last bar of the formation closes. Past signals are never hidden in any way. Losing trades are highlighted.

Should I close my trades on opposite signals?

By the time an opposite signal has taken place, it is already late to cash out the previous trade. Every trade must be managed and closed before the next one takes place. This is not an always

I don't do intraday trading. Can this indicator be useful?

Absolutely yes. It works very well on H4, daily or weekly charts.

I get a lot of signals when I load the indicator into very small timeframes like M1 and M5, and the spread does not allow me to earn a decent profit from them. What can I do?

You can switch to a bigger timeframe in which the spread does not kill the payoff, or you can increase the MinRange parameter in order to decrease the signals density. Trading more does not necessarily mean earning more money, you have to find the best balance between the expected profit from your trades and the spread paid for each trade.

How can I avoid losing signals?

Losing signals are simply part of the game, however they mostly take place when a trade has been triggered by a sudden spike bar which depletes the price movement or against double tops or bottoms. If you can avoid spike bars, you will do just fine.

Which is the best confirmation?

There is none by default. Confirmation of trades is up to you.

为了建立您的专家顾问，您可以使用下面所示的 iCustom（）功能从指示器中读取数据。该指标有一个额外的缓冲，其唯一目的是将交易信号存储为常数：这是您需要从中读取的唯一缓冲。将下面的代码复制并粘贴到您的 EA 中，并替换您自己的 iCustom（）呼叫的指示名称。

//---- Read values from the signal buffer
int start()
{
// Read signal for this bar
double value = iCustom(Symbol(), Period(), "PZ_DayTrading_LICENSE", 4, 1);
// Do something
if(value == OP_BUY) { /* Your code for bullish signal */ }
if(value == OP_SELL){ /* Your code for bearish signal */ }
if(value == EMPTY_VALUE) { /* Your code if no signal */}
// Exit
return(0);
}