Summary of "📌SP2L Poursamadi Strategy Indicator in MetaTrader 4/5 - [TFlab]⚡️"
Summary of the Video:
"SP2L Poursamadi Strategy Indicator in MetaTrader 4/5 - [TFlab]"
Overview of the Indicator:
- The SP2L Poursamadi Strategy Indicator is a specialized trading tool available for MetaTrader 4 and MetaTrader 5 platforms.
- It is downloadable from the Trading Finder website, where users can also learn about its operation.
- The indicator is designed primarily for price action traders focusing on fast scalp and scalper trading styles.
- It works exclusively on 1-minute and 5-minute time frames and does not support higher time frames.
Installation and Setup:
- After downloading, the indicator is loaded via the MetaTrader Navigator by dragging it onto the chart.
- Users must enable “Allow DLL imports” in the dependencies tab.
- A dedicated license key is required, which can be obtained from the Trading Finder support section; the license is device-specific.
- Alert settings can be customized to enable alerts on-screen, as notifications, or via email (email setup required in MetaTrader options).
Key Features and Configuration:
- Spike Detection Settings:
- Number of candles to review for spike detection (default: 300).
- Percentage threshold to identify spike candles (default: top 10% largest candles).
- Adjusting these affects the number and strength of detected spike candles.
- Spike Candle Identification:
- A spike candle consists of a three-candle structure moving in the same direction.
- The middle candle shows a strong imbalance with a sharp market move.
- Two conditions confirm a spike candle:
- Candle size exceeds a configurable spike size value (e.g., 135.06 points).
- Candle body must be at least 65% of the total candle size.
- Spike candles typically appear after consolidation/ranging phases, signaling potential strong price moves.
- Trading Signals and Levels:
- The indicator identifies entry points, stop-loss levels, and take-profit (TP) targets.
- Entry points are confirmed when price breaks above or below the critical level of the third candle in the spike structure.
- Stop-loss is placed behind the identified wave (AB wave).
- Take-profit is set at a 1:1 risk-reward ratio based on the distance from entry to stop-loss.
- The indicator marks these on the chart with signal icons, lines for entry, and arrows for breakout candles.
Trading Strategy Logic:
- The strategy combines spike detection with the AB=CD movement pattern.
- It emphasizes entering trades only when the breakout confirms the spike candle’s validity.
- If the breakout fails, the entry point shifts to subsequent candles until a valid breakout occurs.
- Examples of both bearish and bullish scenarios are shown where the indicator accurately signals entry, stop-loss, and take-profit.
User Interface and Panel:
- A dedicated panel on the chart displays:
- Remaining time until the current candle closes.
- Total number of active trading triggers detected on the chart.
- Breakdown of long and short trade signals.
- Current spike size value related to the last candle.
- The panel can be minimized or moved for convenience.
Practical Considerations:
- The distance between entry and stop-loss levels should be reasonably small for the strategy to be practical.
- Large distances increase the take-profit target, making trades less likely to hit the target.
- Optimal trades have clearly defined spike candles with close stop-loss and achievable take-profit levels.
Conclusion:
The video provides a detailed tutorial and guide on how to install, configure, and use the SP2L Poursamadi Strategy Indicator effectively. It encourages users to share feedback and suggestions in the comments.
Main Speakers/Sources:
- The tutorial appears to be presented by a representative or team from TFlab or the Trading Finder website, who explain the indicator’s features and usage in detail.
- No individual speaker names are provided in the subtitles.
Key Takeaways:
- SP2L Poursamadi Strategy Indicator is a niche tool for scalpers on MT4/MT5.
- Focuses on spike candle detection combined with AB=CD pattern.
- Provides automatic entry, stop-loss, and take-profit signals.
- Requires license activation and proper setup.
- Best used on 1-minute and 5-minute charts.
- Includes a user-friendly panel for real-time trading signals and candle timing.
Category
Technology