***NEW*** Market Radar v2.0 [by TC]

Dec 7, 2020

Overview – Market Radar v2.0 indicator

The Market Radar v2.0 indicator is a highly reliable and adaptable trading tool designed for a variety of trading and investment strategies. Built on a trend-following algorithm with a volatility-adjusted filter, it provides precise Buy and Sell signals while maintaining excellent smoothing quality. Suitable for traders and investors alike, Market Radar delivers consistent results across all market instruments, time frames, and strategies – whether you’re trading stocks, Forex, indices, commodities, or cryptocurrencies.

📈 Market Radar v2.0 excels in both volatile and trending markets by identifying key turning points and high-quality trends. Its flexibility allows it to adapt to different trading styles, from short-term scalping to swing trading and even long-term traditional investment strategies.

⚠ IMPORTANT NOTICE - Optimize Your Indicator for Best Results:
With these advanced features, it is especially important to invest time in adjusting and fine-tuning the indicator signal settings to align with your specific trading style, instrument type, and time frame used, as this can significantly enhance signal accuracy and overall performance.


Key Features

• Advanced Signal Framework: A completely redesigned signal generation method that delivers highly accurate signals. This update effectively filters out noise while improving trend confirmation and signal reliability.
  
• Customizable Modes: Choose from three distinct modes - Standard, Balanced, and Combined - to adapt the indicator to your unique trading strategies and preferences.
  
• Smoothing Filter: Enhances trend direction clarity by reducing market noise, ensuring precise and accurate signals without sacrificing responsiveness.
  
• Signal Line (90 EMA): A medium-term trend indicator that offers greater clarity and control over trend direction, serving as a reliable tool for additional confirmation.
  
• Dynamic Support and Resistance Lines: Automatically identifies and draws key support and resistance lines based on pivot points. Includes a built-in alert system to notify users when these lines are breached.
  
• SuperTrend Band: A highly adaptive and powerful trend-following tool that can be used as a standalone trend indicator or as a complement to primary signals for comprehensive analysis.
  

Areas of Application

• Type of Indicator: A comprehensive trend-following and momentum-based indicator with a dynamic filter for volatility adjustments.
  
• Markets: Designed for all markets, including stocks, Forex, indices, commodities, or cryptocurrencies. Performs exceptionally well in volatile conditions.
  
• Time frames: Fully compatible with all time frames, from 1-minute charts to daily charts.
  

Settings & Customization

The default settings of Market Radar v2.0 are optimized for general use, but it's highly recommended to experiment with and fine-tune these parameters to enhance signal accuracy and align the indicator with your specific trading style and market conditions. Adjust the parameters according to your preferred noise tolerance level:

• 🔃 Mode Selection: Choose from three distinct signal modes—Standard, Balanced, and Combined—to customize the indicator based on your trading approach.
  
• Standard: Ideal for straightforward setups and minimal customization.
  
• Balanced: Strikes a balance between sensitivity and noise reduction, featuring a mildly adaptive smoothing algorithm for improved performance.
  
• Combined: Delivers advanced analysis by integrating the strengths of both Standard and Balanced modes, offering a more comprehensive perspective.
  
  
• 🔃 Market Response: Controls the indicator's sensitivity to market movements. Lower values make the signals more reactive to short-term fluctuations, while higher values provide smoother signals. Suggested range: 0.75–1.75.
  
  
• 🔃 Signal Filter: Fine-tunes the signal accuracy by filtering minor price fluctuations. A higher value reduces noise but may delay signal generation. Default: 1.05.
  
  
• 🔃 Source: Defines the price point used for calculations (e.g., Close, Open, High, Low). Adjusting this setting allows the indicator to align with your preferred price input for signal generation.
  
  
• 🔃 Stability Factor: A key parameter for ensuring consistent signals across various market conditions. Higher values provide greater stability but may sacrifice responsiveness to short-term price changes. Default: 3.40.
  
  
• 🔃 Signal Factor: Adjusts the magnitude of price movement needed to trigger a signal. Use this setting to refine the balance between signal frequency and accuracy. Suggested range: 2.0–6.0.
  
  
• 🔃 Scaling Factor: A highly precise parameter for calibrating the signal output. Small adjustments can fine-tune the overall indicator performance.
  
  Additional Settings:
  
• 🔃 Smoothing Filter: Smooths the signals for better trend clarity while reducing noise. Enable this feature by setting Smoothing Filter to true and adjust the Smoothing Value (range: 1.0–3.0) to your preference. Default: 1.65.
  
  
• 🔃 Dynamic Tune (Short and Long): Use Short Dynamic Tune and Long Dynamic Tune to adjust the length of moving averages for precise trend detection. Shorter lengths increase sensitivity, while longer lengths provide more stable signals. Defaults: 4 (short) and 50 (long).
  
  
• 🔃 Precision Tuner: Fine-tune the precision of signal generation to align with specific market dynamics. Adjust this setting within the range of 0.998–1.000.
  

Optimizing Settings:
Adjust these settings based on your trading preferences and market conditions. For example:

• Use lower Market Response and Signal Filter values for scalping or shorter time frames.
  
• Opt for higher Stability Factor and longer Dynamic Tune values for swing trading or long-term analysis.
  
• Experiment with the Smoothing Filter to enhance clarity in choppy or volatile markets.
  

These customizable settings make Market Radar v2.0 adaptable to a wide range of instruments, time frames, and trading strategies.


How to Use the Indicator:

1. Apply the Indicator: Add the Market Radar v2.0 indicator to your chart, selecting your desired instrument and time frame. Adjust the settings to suit your trading strategy (See "Settings & Customization" above").
2. Buy Signals: When a Buy signal is confirmed (Green triangle, up ▲) –> enter a Long position.
3. Sell Signals: When a Sell signal is confirmed (Red triangle, down ▼) –> exit the Long position (or enter a Short position).
4. Manage Exits: Exit also the trade when –> it reaches your profit target, limit, or stop loss (based on your discretion).

Use the SuperTrend Band for Trend Following:
- Entering Trades: Enter Long positions in the direction of the green SuperTrend Band and exit or enter Short positions in the direction of the red SuperTrend Band.
- Swing Trading or Trend Following: Use the SuperTrend Band to stay with the trend as long as the price remains within the green band. This allows traders to ride sustained trends effectively while reducing noise and false exits.

Use the Dynamic Support and Resistance Line function for Trading Decisions:
This feature provides a clear visual framework, helping traders make informed decisions with precision and confidence.
- Identifying Key Levels: The Dynamic Support and Resistance Line function automatically detects and draws crucial lines based on pivot points. These lines help traders identify levels where price is likely to reverse or consolidate, offering valuable context for entry and exit decisions.
- Entering Trades: Enter Long positions when the price bounces from a support line, and consider entering Short positions when the price reverses from a resistance line. Use the on-screen visual alerts to act promptly when key levels are breached.
- Trend Continuation or Reversal: Stay aligned with the trend by observing how the price interacts with these lines. If the price respects the support or resistance levels, it suggests a continuation of the trend. A breach, however, may signal a potential reversal or breakout opportunity.

IMPORTANT: Always wait for the candlestick to close before acting on a signal to ensure confirmation.


Additional Features

• Adaptive SuperTrend Band: An adaptive trend indicator that serves as a powerful standalone tool or complements primary signals, offering comprehensive market insights. (To use it as a standalone tool, go to Indicator Settings > Style and disable the Buy and Sell signals.)
  
• Custom Alerts: Set real-time alerts to ensure you never miss a trading opportunity. Use "Once Per Bar Close" for confirmed signals.
  

Tips for Best Results

• Adjust Settings for Different Time Frames: For shorter time frames (e.g., 1-minute, 5-minute), you may need to fine-tune the signal sensitivity to avoid false signals.
  
• Experiment with Filters: Focus on the main variables, "Market Response" and "Signal Filter," and adjust the values to align with the instrument's volatility and your trading objectives.
  
• Use with Alternative Candles: Traditional bar candles are recommended, though Heikin Ashi candles can help filter out noise, offering a clearer view of trends.
  
• Combine with Other Indicators: Enhance performance by combining Market Radar with support/resistance levels, volume indicators, or moving averages.
  

Important Notice

⚠ If you are new to trading and/or technical analysis, it’s recommended to start with a demo account (paper-trading) until you become familiar with how to use the indicator before applying it to live trades.

The Market Radar indicator is non-repainting, meaning signals do not change or disappear after the bar closes. While Market Radar delivers reliable Buy/Sell signals, it is essential to combine it with a solid risk management strategy and other forms of technical analysis. Keep in mind that no indicator guarantees success, as markets are influenced by unpredictable events.

Nov 24

Release Notes

Market Radar v2.0
This version is a substantial upgrade, bringing a range of new features and improvements:
- Introduced a completely new indicator signal framework that delivers highly accurate signals, effectively filters out noise while improving the confirmation of both signals and trend direction.
- Added multiple mode options, including Standard, Balanced, and Combined, allowing users to customize the indicator for their unique trading strategies and approaches.
- Implemented a new smoothing filter to enhance trend direction clarity and reduce noise, all without compromising signal accuracy.
- Added a Signal Line (90 EMA) to serve as a medium-term trend indicator, offering greater clarity and control of trend direction.
- Introduced a powerful new feature that dynamically draws support and resistance lines based on pivot points. This customizable feature also includes an on-screen visual alert function to notify users when the nearest support and resistance levels are breached.
- Added the brand-new SuperTrend Band, a highly adaptive and effective trend indicator. It can be used as a complementary tool to the primary indicator signals or as a standalone tool for comprehensive trend analysis.
- Updated the background color setting to be optional, with the default set to false, allowing for greater customization.