Myfxpaddy Trend Scanner Indicator

 myfxpaddy Trend Scanner Indicator is a multi-timeframe indicator based on three standard indicators: Stochastic Oscillator, RSI (Relative Strength Index), and CCI (Commodity Channel Index). It displays current trend directions for M1, M5, M15, M30, H1, H4, D1, W1, and MN1 timeframes, providing a clear picture of trends across all important timeframes. It can be attached to any timeframe and is available for both MT4 and MT5.

Input Parameters

• CheckCandle (default = Previous): Candle to check indicator values on, applicable for both display and alerts.

• PercentK (default = 8): Period in bars for calculating the %K line of the Stochastic indicator.

• PercentD (default = 3): Period in bars for calculating the %D line of the Stochastic indicator.

• Slowing (default = 3): Value for slowing the Stochastic indicator.

• RSIP1 (default = 14): Period for the first RSI (fast).

• RSIP2 (default = 70): Period for the second RSI (slow).

• Enable (default = false/true): If true, myfxpaddy Trend Scanner Indicator calculates and displays signals for a given timeframe.

• EnableNativeAlerts (default = false): If true, a native MetaTrader popup alert is triggered when a confluence of signals appears for some of the timeframes.

• EnableEmailAlerts (default = false): If true, an email is sent when a confluence of signals appears for some of the timeframes. Email should be properly configured in MetaTrader via Tools -> Options -> Email.

• EnablePushAlerts (default = false): If true, push notification alerts are sent when a confluence of signals appears for some of the timeframes. Notifications should be properly configured in MetaTrader via Tools -> Options -> Notifications.

• Other parameters: Symbol codes for trend direction arrows and colors.

Example and Strategy

Although the usage of this indicator is straightforward, it is recommended to buy or sell only when all indicators signal the same direction on your chosen timeframe and both neighboring timeframes. For example, go long on the M30 timeframe only if all indicators signal BUY on M30 and in both M15 and H1 timeframes.

Original build credits to: earnforex, indicator revamped and improved by myfxxpaddy.