Okay, I have an alert/alarm signal for this system. Yea!...
But it’s not perfect.
Here’s the scoop:
First [sadly, imho] it is an E.A. I really do not like E.A’s: I am much in favor of indicator when it comes to receiving alert signals. And second it will give an alert alarm under more circumstances than just for the rainbow squeeze.
Here is a list of the possible alarms you will get with this:
1. Close above 50ema(HL/2) + the currency pair and the time frame
2. Close below 50ema(HL/2) + the currency pair and the time frame
3. SAR UP + the currency pair and the time frame
4. SAR DOWN + the currency pair and the time frame
5. Touching top band + the currency pair and the time frame
6. Touching bottom band + the currency pair and the time frame
For this EA, you will have to ignore all alerts for 1-4;
For this EA, ONLY pay attention to an alert which says:
“Touching top/bottom band”
If you load this EA onto a currency pair where you have already loaded the rainbow squeeze template it will make a sound alarm when the price action bar pierces into the pink bands (the 2.6 deviation bands) either on top or below. It will also give you a pop-up box telling you which currency pair and time frame the signal has occurred on.
This alert is intended to be a “wake-up call” alert ONLY. It does NOT necessarily signal an entry. In other words, if you load this EA, you can walk away from your computer screen and not have to worry about missing an opportunity. It will let you know when price action goes into the pink bands. This often occurs just before some good movement. When you get the alarm, you can then check the currency pair and decide if all the other necessary factors are there to place a trade (see post one for this list).
I will post future, improved, versions of this alert alarm as I obtain them.
The Bottom Line:
Using this EA with the rainbow squeeze will help reduce the number of missed signals. It is not perfect, but it is handy. It has already successfully alerted me to a nice move that I would otherwise have missed.
Trade well.
But it’s not perfect.
Here’s the scoop:
First [sadly, imho] it is an E.A. I really do not like E.A’s: I am much in favor of indicator when it comes to receiving alert signals. And second it will give an alert alarm under more circumstances than just for the rainbow squeeze.
Here is a list of the possible alarms you will get with this:
1. Close above 50ema(HL/2) + the currency pair and the time frame
2. Close below 50ema(HL/2) + the currency pair and the time frame
3. SAR UP + the currency pair and the time frame
4. SAR DOWN + the currency pair and the time frame
5. Touching top band + the currency pair and the time frame
6. Touching bottom band + the currency pair and the time frame
For this EA, you will have to ignore all alerts for 1-4;
For this EA, ONLY pay attention to an alert which says:
“Touching top/bottom band”
If you load this EA onto a currency pair where you have already loaded the rainbow squeeze template it will make a sound alarm when the price action bar pierces into the pink bands (the 2.6 deviation bands) either on top or below. It will also give you a pop-up box telling you which currency pair and time frame the signal has occurred on.
This alert is intended to be a “wake-up call” alert ONLY. It does NOT necessarily signal an entry. In other words, if you load this EA, you can walk away from your computer screen and not have to worry about missing an opportunity. It will let you know when price action goes into the pink bands. This often occurs just before some good movement. When you get the alarm, you can then check the currency pair and decide if all the other necessary factors are there to place a trade (see post one for this list).
I will post future, improved, versions of this alert alarm as I obtain them.
The Bottom Line:
Using this EA with the rainbow squeeze will help reduce the number of missed signals. It is not perfect, but it is handy. It has already successfully alerted me to a nice move that I would otherwise have missed.
Trade well.
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as is.ex4
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