How to Use the Indicator
This page talks about how to use the indicator and different configurations available on the Indicator.
Add Indicator to the chart
If you have not added the indicator to the chart, checkout the below page for instruction on how get access and add the indicator to the chart.
Choose the Indicator Strategy
GreenCrypto Indicator Provides two major strategies (1. Breakout Strategy 2. Trend Strategy) which can you use depending on your trading style.
1 . Trend Strategy:
This strategy is selected by default when you add the indicator to the chart. This strategy focuses on the prices trend combined with the volume to capture the full trend from the bottom or top. Additional filters are applied to reduce the noise.
If you are new to trading then this is the recommended strategy for you. You will get entry price, stop-loss and take profit targets with this strategy as usual.
There are no additional settings available for Trend Strategy, it is already optimized for best performance.
Below is an example on how trend strategy looks.
2 . Breakout Strategy
This strategy is built based on the support and resistance and focuses on the breakout of the price from support/resistance along with the additional filter to get the perfect signals. This is useful for the trades who focus on catching quick price movements without waiting for complete trend. Best used if you focus on Scalp stye trading.
You can select this strategy from the Setting of the Indicator. Below is an example on how to change the strategies
Strength and Factor configurations are available only for the Breakout Strategy. We recommend using the default Strength and Factor values. However, feel to explore with different values.
Below is an example of how Breakout Strategy works.
List of Configurations and descriptions
Choose the Strategy: This is for choosing the strategy, there are two options
Breakout Strategy: Build based on the support and resistance and focuses on the breakout of the price from support/resistance along with the additional filter to get the perfect signals.
Trend Strategy: Focuses on the prices trend combined with the volume to capture the full trend from the bottom or top. Additional filters are applied to reduce the noise
Breakout Strategy Configs
Strength: Define the strength of the support resistance that we calculate. The lower value means less number of candles used for calculating the support & resistance and vice versa
Factor: Specify what level of trend to use. Using higher value will result script looking using the larger trend (zoomed out trend) and using lesser value will result in using the short trends
Enable Scalping/Aggressive mode ? : This is also called as scalp mode. You can enable this and get scalp signals which are more frequent and has short time duration of the trade.
Enable Noise Filter: This is for reducing the noise or fake signals, this is useful in lower timeframes.
Enable Advanced StopLoss? : This will help in setting the tight stop-loss to reduce the losses. When this option is enabled stopLoss price will be more close to the entryPrice, Incase if there is stopLoss hit the losses will be less.
Enable Dynamic Take Profit ?
Default take profit values uses a fixed ratio to calculate each Take Profit Value, when you enable this option, take profit is calculated dynamically with exponential change between each take profit.
Enable Take Profit Targets ?
Enabling this option will display the take profit targets on the chart. By default this is disabled.
Enable Stop Loss Target ?
Displays stoploss line on the chart. By default this option is enabled.
Show Entry Price
Displays entry price line on the chart. By default this option is enabled.
Stop Loss to Take Profit Ratio
This defines the ratio between the stoploss and Take Profit Target. Increasing this value will move the take profit price farther from the entry price. By default this value is set to 1
TP Text color, Entry Text Color, SL Text Color
These three options provides customisation to Entry, TP and SL texts and line.
If you have any queries about Indicator, feel free to contact us
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