ERC fibo entry - Test

٧ نوفمبر ٢٠٢٤

Hello traders.
I introduce you to the indicator that identifies entries based on the cumulative breakout.

This simple indicator will calculate the candlesticks to see if the current candle is a large candle or not?

If it is a large candle, it will continue to confirm whether the opening price of that large candle is in the previous cluster of three candles, if so, draw a box to tick those three candles.

When the conditions are met, it will start drawing 2 fibo levels of 0.618 and 0.786, which will be 2 entry levels 1 and entry 2.

The indicator has also added the EMA SMA as a filter.

The indicator has also added alerts for your convenience.

١٠ نوفمبر ٢٠٢٤

ملاحظات الأخبار

Update:
-Change ERC candle wick length option, minimum 5%
-Option to use EMA/SMA as confirmation filter
-Show 3 target levels
-With ERC up, target 1 is calculated from entry 2 to ERC high.
-TP2 = tp1 x2
-Tp3 = tp1 x3
-Add 3 target levels to alert

--Goodluck

١١ نوفمبر ٢٠٢٤

ملاحظات الأخبار

Change the logic of filtering sideway zones, avoid the case of 3 consecutive decreasing or increasing candles

١٨ نوفمبر ٢٠٢٤

ملاحظات الأخبار

Edit alert

٢٢ نوفمبر ٢٠٢٤

ملاحظات الأخبار

Change profit target calculation logic
Option to change stop loss
Option to change entry