Overview
of the Super Point Signal indicator and how to use it
The
origin of the Super Point Signal indicator is unknown. We can say
that this is a rootless, almost unknown product from the author by
the name of Kravcoff (Russian mql4 programmer). ìWhich however did not provide indications on how to use
the indicator to trade.
Super
Point Signal is an indicator for MT4 without redrawing.
Market
conditions for using the indicator
Indicator
signals appear when a relatively calm price behavior is observed in
the market, and during strong trend movements the algorithm is
“silent”.
The
Super Point Signal indicator. Over-short-term trading is not
suitable, since with significant changes for the minute chart, no
signals are given, which means that good moments are missed for
opening a position.
Super
Point signal is suitable for time frame 15 min, 30 min, 60 min.
Whit
the filter can be used also at 5 min time frame.
How
to trade using the Super Point Signal indicator
By
the name of the algorithm you can guess that a signal in the form of
a "super point" will appear on the graph. The Super Point
Signal indicator shows a red dot when the market is expected to move
down, so this is the best time to conclude a deal to reduce prices.
If a green dot appears on the chart, then you need to consider the
possibility of opening a position for market growth.
In
many cases, this instrument does give accurate signals, but its
disadvantage is that a large number of convenient moments for trading
are missed, and these can be large movements with great potential.
It
is necessary to combine Super Point Signal with other tools, for
example, the RSI indicator. If you look at the following figure, it
can be noted that a reliable signal comes when Super Point Signal
recommends opening a deal to go down. At the same time, the RSI
signals that the market is overbought.
Super
Point Signal gives uncertain signals, RSI indicators will deter
the trader from buying, since there is no overselling or overbought.
False or weak signals are filtered to protect the deposit from
unsuccessful trading operations.
It
is also worth noting that the Super Point Signal indicator can
deliver a series of signals in one direction.
In
my opinion the best way to filter this signal
and get the best results is with the TMA Bands.
This
trading method is also good for scalping at 5 min e for trading with
binary options High/low.
Template
Indicators:
TMA
with Distance 61 periods, 2.61 atr, 110 atr periods.
TMA
with Distance 61 periods, 3.8 atr, 110 atr periods.
Super
signal point.
Buy
Price
action reaches and breaks the lower TMA bands, a necessary condition.
Wait until the price reverses and the buy arrow of Super Point signal
appears.
Sell
Price
action reaches and breaks the upper TMA bands, a necessary condition.
Wait until the price reverses and the sell arrow of Super Point
signal appears.
In
this type of strategy it is a valid alternative to robust trend
indicators such as Half Trend. But which one is better? Depends on
market conditions. In the markets in range and medium trend the super
point signal in the Medium trend and trend following markets is
better than Half Trend. The Half Trend is regular and costant.
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