Summary of "馃毃Envelopes Indicator for MetaTrader 4/5 馃摜Download - Free - [TradingFinder]"
The video presents a detailed tutorial on using the Envelopes Indicator for MetaTrader 4 and 5, available for free download from the TradingFinder website. The indicator helps traders identify price trends and potential entry points by displaying two bands around a Moving Average, which act as dynamic support and resistance levels.
Main Financial Strategies and Market Analysis:
- The Envelopes Indicator creates a channel with two lines: an upper band (Moving Average plus deviation) and a lower band (Moving Average minus deviation).
- Buy signals occur when the price breaks above the upper band and then pulls back, indicating an uptrend.
- Sell signals occur when the price breaks below the lower band and then pulls back, indicating a downtrend.
- Increasing the deviation makes the indicator behave similarly to Bollinger Bands, with price fluctuating within the bands.
- Traders are advised to trade in the direction of the prevailing price trend, using the indicator as a guide for entry points.
Step-by-Step Guide to Using the Envelopes Indicator:
- Download the indicator file for MetaTrader 4 or 5 from the TradingFinder website.
- Load the indicator onto the chart via the Navigator panel.
- Enable "Allow DLL Imports" in the indicator settings under the "Common" tab and confirm.
- Customize display settings by selecting a theme: Light, Dark, or Custom (retains your chart template).
- Adjust indicator parameters under the input section:
- Moving Average Period (default 14, adjustable)
- Shift Period (to move bands forward or backward)
- Moving Average Type: Simple (default), Exponential, Smooth, or Linear Weighted
- Price type for calculation: Close (default), Open, High, Low, etc.
- Deviation (division factor of 10), typically between 0.5 and 1, adjustable based on asset/timeframe
- Example customization: Set theme to Dark, Moving Average period to 21, type to Exponential, and deviation coefficient to 3 to create a Bollinger Bands-like effect.
- Observe how price reacts to bands: price tends to reverse when touching upper or lower bands.
- Use the indicator as a tool to confirm trend direction and timing for trades.
Business Trend:
- The video promotes free availability of advanced trading tools to retail traders.
- Emphasizes customization to fit different trading styles and assets.
- Encourages community feedback for continuous improvement.
Presenter/Source:
- The tutorial is provided by TradingFinder.
Category
Business and Finance
