ActivTrades is proud to offer its customers a new add-on: SmartTemplate, an extensive indicator tool for MetaTrader 4 to help traders make calculated trading decisions.
Unlike most indicators on the market, the new SmartTemplate offers simple but highly effective features. Rather than using complex mathematical formulas, the add-on indicates unique long and short trading opportunities based on chart signals and puts them in context with the respective trend strength. Not only does it provide explicit bar chart signals, it also defines the clear time frame to trade.
The SmartTemplate is monitoring the most important market parameters and several indicators.
Market Strength – measures the current volatility of the market depending of the average market volatility.
Daily Market Trend – monitors the power of market trend on daily basis.
Market Direction – summarizes the market trend based on the values of four indicators in 3 different time frames, short term (M1-M15), medium term (M30-H4) and long term (D1-W1).
Overall Strength – For a given bar, OverallStrength indicates the strength of the overall signal given by SmartTemplate. It takes into account the 4 indicators composing SmartTemplate as follow:
For each Long: +1
For each Short: -1
For each Neutral: 0
For example: If ATCI gives Long signal, MACD gives Long signal, ATLDiG gives Long signal and AMA gives Short signal, OverallStrength indicator gives value “2” (1 + 1 +1 – 1 = 2)
Legend at the bottom
This shows the list of indicators displayed on the chart and the corresponding colours:
Colours can be interpreted as follow:
ATCI – Green = Uptrend, Red = Downtrend, Grey = Neutral
ATLDiG – Light blue = Uptrend, Orange = Downtrend
When the “Daily Market Trend” value corresponds to the long term (D1-W1) trend of the four indicators in “Market Direction” wait for a low “Market Strength” value and a signal from the short (M1-M15) term and medium (M30-H4) term trend of “Market Direction”.
The provision of this indicator tool should in no way be considered investment advice by ActivTrades or any related party, the indictors are for information purposes only and should not be used as a basis to make investment decisions. Please ensure that you fully understand the risks involved, and seek independent advice if necessary.