ON Trade Angler A Powerful Trend Detection Tool for MetaTrader

Description

This indicator is a trend detection indicator designed for MetaTrader 4 that helps traders identify optimal entry and exit points in the market. Developed by ON Trade Corp, it uses a unique algorithm to draw dynamic price channels, making it ideal for scalping, day trading, and swing trading15.

Key Features

✅ Dynamic Price Channels – Automatically draws expanding and contracting channels around price action.
✅ Multiple Calculation Modes – Offers three calculation types for different trading styles.
✅ Non-Repainting Signals – Ensures signals remain stable and do not disappear after forming.
✅ Customizable Themes – Supports different color schemes for better visual clarity.

 

 

 

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How Does This indicator Work?

The indicator analyzes price and time relationships to generate trading signals:

1. Channel Expansion & Reversion

• The tool draws a price channel that expands over time.
• At predefined intervals, it reverts to the starting point based on an algorithm combining time and price data.

2. Trading Signals

• Buy Signal: Enter near the lower channel boundary when a bullish reversal is confirmed.
• Sell Signal: Exit near the upper channel boundary when a bearish reversal appears.

3. Calculation Types

The indicator provides three calculation methods:

1. Original Calculation – Determines the day’s trend based on opening price position.
2. New Calculation – The default mode, drawing a dynamic channel for trend detection.
3. Sheph Mode – A modified version for symbols incompatible with the standard calculation.

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Who Should Use This indicator ?

✔ Scalpers – Quick trend detection for fast trades.
✔ Day Traders – Clear channel-based entries and exits.
✔ Swing Traders – Helps capture medium-term trends.

For more info you can Contact us .