If you already downloaded this little indicator given away at no cost by Vladimir Ribakov from Forex Gemini Code you should know that it can perform much better by using some extra parameters nobody know about. If you did not had a chance to download it click on the link below and you can get it right away. I guess you already know that Vladimir is a successful trader and also manages a Hedge Fund – which means a lot for real traders since they know this kind of traders are not afraid to take their risks inside the market
Let’s get back to our secret strategy using Dynamic Triple Edge indicator from Forex Gemini Code. Below is an imabge of the strategy they tell you use, but you can have another one as well. Now when you attach the indicator to your chart make sure you have enabled Alerts to true so you can see when the price will touch your expected region. After that start drawing support and resistance lines onto your chart.
As soon as you have your personal support and resistance lines on chart you can change their color to the one specified in parameters – for example green for the resistance line – when you will have a break on it you will hear a sound and you have extra confirmation for what is happening inside market.
Also you can change the color to Red and as soon as the price touches that you will hear the sound for your profits 🙂
Now the secret here is that you have to name the indicator like this:
DTE_SomeName and have the color changed to either red for break below it or green for break above it – after that this magic indicator will do its job and will take care of it and alert you once the price touched your support and resistance lines or any other you considered as those.
In the end just remember – even if this indicator is very easy to install and setup, like any other strategy which comes with it could bring you profits and loses, all you have to do is just try it for yourself and see if it suits your trading style. I’ve personally used many free indicator for profit and many for loses, but in the end I just select those which are suitable for my trading style. Some of them will be your cash maching – some of them will be your nerve machine :).