Features of the Indicator
The Holy Grail 1.6 indicator works with the ADX and EMA. To trigger a buy/sell signal, the ADX must be above the 30-level (indicating a strong trend), and the price must touch and then bounce off the EMA, which works as a support/resistance zone.
Furthermore, the ADX and EMA don’t appear on the MT4 chart; once the Holy Grail trading conditions are met, a buy/sell signal arrow appears on the price chart. As a result, the indicator is a simple technical tool that would fit both new/intermediate and experienced traders.
How the Indicator can Benefit you
The indicator gives clear trade entry signals. It draws color-coded arrows on the price chart that you can use to enter trades. The green arrows represent a buy signal, while the red arrows represent a sell signal. However, it is important to note that you should use the indicator with price action and other technical trading tools.
Indicator Settings Description
The indicator has inputs that you can change to match your trading style.
Main period: You can change the period of the EMA.
ADX period: You can change the ADX period for trend analyses.
Min bars: You can change the minimum number of bars the indicator uses for trend analyses.
Graphical user interface: You can turn on/off the display of the information panel.
Sound alert: You can turn the sound alert system on/off.
Email notification: You can turn notification signals via email on/off.
SMS notification: You can turn notification signals via SMS on/off.
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