The Donchian Channel MTF indicator can display the Donchian channel for any given time-frame which is higher or equal to the current timeframe. The trader has the option to set the timeframe of the Donchian channel and to choose whether the channel will be drawn based on the highs and lows of the candles or their open and close.
Above you can see the Donchian channel that corresponds to the H4 time-frame (240 minutes) displayed on the H1 chart.
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MTF stands for multi-time-frame and so the RobotFX Heiken Ashi MTF will display the HA candlestick for a higher given time-frame. In the screenshot above the RobotFX HA MT shows (the history bars indicator at the bottom of the chart) the color of the Heiken Ashi candles on the daily chart.
To display your desired time-frame change the TimeFrame setting to reflect this. For daily we have 1440 (minutes), for H4 240 and so on. Enter the appropriate number of minutes.
This indicator requires the RobotFX Heiken Ashi Alerts indicator and will not work without it.
A simple strategy used by the HA traders is to buy/sell when both Heiken Ashi indicators have the same color: the original HA loaded on the chart (the candles representing the entry /exit signals) and the HA history-bars for a higher time-frame (representing the trend).
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The RobotFX Heiken Ashi alerts will display a Heiken Ashi history bars below the chart with the possibility to alert the trader when the color of the HA candle changes. The alert are basic alerts, notifications (push) and email alerts.
In the screenshot above the original Heiken Ashi candles indicator was loaded on the chart (white and red candles) as long with the Heiken Ashi Alerts indicator. You can see how the color of the history bar changes with the color of the Heiken Ashi candle on the chart.
This indicator was made for those that do not like how the Heiken Ashi candles are covering the normal candles or the traders that guide their trade entries based on the candlestick signals, while still considering the trend candles (HA) signals.
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The difference between the classic Heiken Ashi indicator and the RobotFX Heiken Ashi indicator is that the last one has display more responsive candles. This will let you identify the swing moves much easier and therefore preventing the loss on money.
As you already know, the Heiken Ashi candles are trend candles, so when the color is up (in our settings green) you should find the right moment to buy. In order to help the trader even more, our indicator has incorporated a price action channel. This is built by an EMA band and, as you can see in the picture, it is very helpful to identify not only the trend, but also the right moment to enter a trade. You should avoid trading when the price is in the band, because then it probably consolidates (check the rectangles). These could be great opportunities to set and forget our RobotFX Stairsteps EA.
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This indicator will display a non-lag moving average in two colors, one for the up trend and a different one for the down trend. Depending on the market’s conditions, the nonlagMA can be successfully used not only to identify the trend, but also to precisely spot entry and exit trade levels.
The most important of its settings is the Length, which will determine the color change. In the photo, the Length is set to 24. There also a possibility to change the shift of the moving average; this is called Displace. The indicator has alerts, too, which are disabled by default. Once activated, you will get on screen alerts and push notifications (if you have the MT installed on a mobile device).
This indicator will change the candles color depending on the ATR (average true range) settings that you will choose; defaults are 10 with a multiplier of 2. You have the option to also display the ATR line, as you can see it in the chart on the left. You can also choose your own ATR settings and the colors of the candles. This indicator can be very useful to identify the small swings when following a stronger trend, in order to spot the right entry.
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This indicator will change the candlesticks color depending on two moving averages crosses. In the picture example we used the 8 EMA and the 21 EMA. If the 8 exponential moving average is above the 21, the candles will be colored in green. If 21 EMA > 8 EMA then the candles will be red.
You have the options to choose your own moving averages as well as their settings (price, mode, shift) and, of course the candles’ colors. You may wish to disable the comments to clear the charts.
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