KT Chop Zone Indicator
KT Chop Zone Indicator
MT4 | MT5
- EA Developers
It's a well-known fact that most of the financial markets trend only 30% of the time while moving in a closed range rest 70% of the time. However, most beginner traders find it difficult to see whether the markets are trending or stuck in a range.
KT Chop Zone indicator solves this problem by explicitly highlighting the market phase into three zones as Bearish Zone, Bullish Zone, and Chop Zone.
- Instantly improve your trading by avoiding trade during the sideways market (Chop Zone).
- You can also use it to get exit signals. For example, you may exit from a long trade when the KT Chop Zone indicator enters into a Chop zone.
- Fully compatible with Expert Advisors. You can easily import this indicator in your expert advisor and improve your trading strategies.
- All Metatrader alerts included.
- Main Period: An integer for the oscillator. We recommend putting a value between 10 to 30.
- Bullish Zone Level: Choose a level for the bullish zone.
- Bearish Zone Level: Choose a level for the bearish zone.
- ----- Color Settings -----
- ----- Alert Settings -----
Main Oscillator of KT Chop Zone indicator
The main oscillator line is derived using a slightly modified version of the Relative Strength Index(RSI) as it's one of the widely used oscillators by algorithmic traders.
Developers can use the following code to import this indicator in an expert advisor.
// Declare input parameters input int Main_Period = 10; input int Bullish_Level = 60; input int Bearish_Level = 40 // MQL4: double main_line = iCustom(Symbol(),0,"KT Chop Zone Indicator",0,1); if(main_line>=Bullish_Level) // Bullish Zone if(main_line<=Bearish_Level) // Bearing Zone if(main_line
Bearish_Level) // Chop Zone // MQl5: int handle = iCustom(Symbol(),0,"KT Chop Zone Indicator"); // Define Buffer Array double main_line; // Copying buffers into arrays CopyBuffer(handle,0,1,1,main_line); if(main_line>=Bullish_Level) // Bullish Zone if(main_line<=Bearish_Level) // Bearing Zone if(main_line Bearish_Level) // Chop Zone
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