The strategy type allows you to choose which strategy indicator to use. I suggest keeping it on the trend entry.
The indicator also includes a section called Wave Analyzer Exit, Trend Entry Line, and 3 EMA Line.
The Wave Analyzer Exit provides guidance on exiting the market, and some traders also use it as an entry signal.
For example, if it indicates a buy exit, it means a sell opportunity is coming.
The Trend Line helps to identify the market trend. When it turns yellow, the market is starting to flatten out. When it turns green, it's in a strong uptrend, and when it turns red, it's in a strong downtrend.
The EMA FILTERS use custom EMAs to filter out buy/sell signals. For example, if you enable Filter 1 and select a 100 EMA with a time frame of 1 hour, any candles above the 100 1-hour EMA will filter out sells, and any candles below the 100 1-hour EMA will filter out buys.
- EMA Filter 1: Enables Filter 1
- EMA Filter 2: Enables Filter 2
- EMA Filter 3: Enables Filter 3
- EMA Length 1-3: Determines the EMA length
- EMA Timeframe 1-3: Determines the time frame for the EMA
It also has additional filters you can use for example higher time frame and ichimoku. You can enable them on and off and pick different time frames. The Buy/Sell arrow will disappear in real- time to help you decide which filters fit your appetite.
You can also set up take profit and stop loss references for alerts.
It also can market the charts up with channels, support and resistance & time zones to help avoid certain markets.
UNDER STYLE you can toggle on and off which things you want to hide to make your chart cleaner.
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