For those who have chosen a one-minute chart for their trading, the TTL indicator can be very useful. It is suitable for traders of any level, since it does not require deep knowledge and extensive experience. Signals are very easy to read. First, we install the indicator in our MT4. I hope this will not be a problem for you. I have described the procedure many times in my articles. After that, go to the settings. You may decide to leave the default settings. But in any case, you need to know about them.
There are only four of them
No – here we indicate the number of candles that will be used by the indicator for calculations.
Pri is a parameter that allows you to select the type of price that will also be used in calculations.
If you wish, you can try different parameters and try to improve the indicator’s performance due to this.
TTL indicator signals
In order to start talking about this, let’s first see how it looks on the price chart
I can offer you two variants of signals to enter the market, which are generated by the TTL indicator . They are both quite effective.
The first option is to track changes in the color of the indicator bars. Green indicates an increase in price, and red indicates a decline. In accordance with this, we make trading decisions. If after the red bars a green bar appears – buy. If a red bar appears after the green bars, we sell.
The second option uses overbought and oversold zones. That is, if the bars exceeded the level of 70 and then began to decrease, it means that we can consider selling. If the bars were below 30 and began to grow, then this is a buy signal.
It is recommended to have two indicators in any trading system. The task of one of them is to give signals to enter the market. And the task of the second indicator is to filter these signals. Therefore, I also recommend you to choose a filter for the TTL indicator, which we are considering today, and test the trading strategy on a demo account.
In the archive, the link to which I will post below, there are two files. In addition to the basic version of the indicator, it is possible to install its modification. Its only difference is that when a signal appears, an audible alert is heard. It’s comfortable.