Marksman Pro v1.1

15 Okt 2019

--Marksman Pro V1.1--

This premium indicator has been designed to give multiple and consecutive buy or sell signals to help identify when you can scale in or out of a position. It is different from a traditional "BUY SELL" trend indicator as it allows the trader to receive more regular and frequent signals to build or decrease a position size without waiting for an "all-in" signal.

This indicator compares the last candle close price to the recent historical price action and provides a buy or sell signal if certain retracement or extension criteria is met.

The signal is calculated using retracements and extensions that are close to key levels of support/resistance and key fibonacci level breaches.

As the indicator uses the previous candle close to produce a signal, there is no repainting.

--Moving Average Controls--

The user must input:

1. A long term moving average, EMA or MA (i.e 200MA) that helps to identify/separate a longer term bullish or bearish trend
(This Moving average is plotted)

2. A shorter term Moving average, EMA or MA (i.e 13EMA) that captures the majority of parabolic moves up and down.
(This Moving average is also plotted)

• A price that closes above both of these Moving Averages is defined as closing in the Bullish region
• A price that close between these moving averages is defined as closing in the Ranging/Mid region
• A price the closes below these Moving averages is defined as closing in the Bearish region

--Signal Controls--

Users can then also control how difficult it is to produce a buy or sell signal in each of these 3 regions listed above, using the 6 inputs:

1. Bullish Sell Difficulty: (1-2000)
2. Mid Range Sell Difficulty (1-2000)
3. Bearish Sell Difficulty (1-2000)

1. Bullish Buy Difficulty (1-2000)
2. Mid Range Buy Difficulty (1-2000)
3. Bearish Buy Difficulty (1-2000)

Once you have refined the settings to show more sells at the tops and more buys on the dips, you can review the signal history to see what possible position sizes you can be using for each buy or sell signal in each moving average region.