MT Signals Indicators - Overview

Your Recommended Learning Path
Based on your interest to use Strategies - you need to become familiar with MT Signals Indicators first - once you understand about these "Signals Indicators" parameters while viewing in an indicator only - then you should progress more easily to using a strategy -where you will find the same parameters again but with many more parameter groups which are for the strategy only. I advise it is too complex to start with a strategy and to learn the quickest we take a many small steps to build up a more sophisticated view of what a MicroTrends Strategy contains and can do.

Please click here to view how to Get Started with MTNT7 Signals Indicators

MT Signals Extreme Boll overview:
Perhaps the easiest place to start is by looking at the following Signals parameters:

Open a new chart
Please add the indicator - "MT Signals Extreme Boll" to a chart:
Make sure you set Zone Setting ID=0
Then click apply and set this as the default parameters - right click the properties and click to "set default"

The parameters that are above the general group will also appear in the "MT Extremes Bollinger" Strategy - but first look at them isolation.

Basic Common Signal Indicator Plots
On the chart you will see a trade setup as "Indicator Plots" also configurable in the indicator properties
Green dot = Setup long
Red dot = Setup short

Trade Entry Mode
On the chart you will see a trade entry as "Indicator Plots" also configurable in the indicator properties
Green triangle = Trade entry long
Red triangle = Trade entry Short

Look at the "Signals" group of parameters:

Trade Setup Mode
A trade setup may have 1 - this is a single value - non bitwise parameter
Trade Setup Mode
0 short close above higher/ long close below lower,
1 short high above higher/ long low below lower,
2 short high and close above upper/ long close and low below lower,
3 short high above upper close below/ long low below close above lower
4 short high crosses above higher and closes above, Low crosses below lower and closes below
5 short high above higher and closes above, Low below lower and closes below
6 short high crosses above higher and closes below, Low crosses below lower and closes above
7short high above higher and closes below, Low below lower and closes above

Test 1
Set Trade Setup Mode=0 // short close above higher/ long close below lower,
Set Trade Entry mode=0 // we dont want any Trade Entry Price confirmation
Then click Apply

View the chart -you will see in this case
CL 02-13 - 10minute chart - That there are several trades - the dot and triangle -the setup and entry is on the same bar
http://screencast.com/t/bhtWVCfFYXNO

Test 2
Set Trade Setup Mode=0 // short close above higher/ long close below lower,
Set Trade Entry mode=1 // we are applying Trade Entry Price Action confirmation
Then click Apply

View the chart -you will see in this case
CL 02-13 - 10minute chart - That there are several trades - the dot and triangle -the setup and entry are not on the same bar
This is because we are applying a preset price action confirmation rule.
http://screencast.com/t/MtX8R3F6pg

This 2 stage approach is common in all of the indicators - some of them only have 1 Trade Setup.

Test 3
Set Trade Setup Mode=1 // short close above higher/ long close below lower,
Set Trade Entry mode= 0 // we are applying without Trade Entry Price Action confirmation
Then click Apply

Test 4
Set Trade Setup Mode=1 // short close above higher/ long close below lower,
Set Trade Entry mode= 1 // we are applying Trade Entry Price Action confirmation
Then click Apply

Please experiment with that aspect of this - until you are comfortable, perhaps add on some other indicators and try the same exercise.

Then you can find something that resonates with you and we can look at using it within a strategy or even combine other signals indicators on the same chart and trading signal confluence ratios

Then we can look at other signal indicator parameters such as bias filter, session times?

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums