The Day Trading indicator is oriented towards traders who are looking for an efficient and simple entry strategy. Novice traders should not trade below H4 charts with it. The PZ Day Trading is a very complex indicator that relies indicators variable length breakouts and congestion zones on donchian peaks or bottoms, but it keeps the nitty-gritty stuff for itself. All you need to know to trade it is the following. Sometimes you will bump into losing trades, which are almost always caused by sudden spike bars with long wicks against the trade direction. Indicators volatility decreases as you go up in timeframes, trading H1 and H4 charts will yield the best results. The indicator studies the quality of its own signals and plots the relative information on the chart. Every trade is analyzed and the overall historic results displayed at the top-left corner of the chart. The indicator displays the best possible outcome and the worst possible outcome for every trade using two dotted lines and two price labels, and account every single one of them into the statistics you can find at the top-left corner of the chart. You can use those statistics to optimize the indicator parameters by yourself, for any given instrument and timeframe. Finally, losing trades are not hidden but highlighted and accounted. Every losing trade is highlighted with a red cross. Looking at them regularly might help you to avoid losing patterns in the future. Most brokers lure novice traders into scalping small timeframes, with the implicit argument that more trading frequency translates into more profits. But nothing can be further from the truth. Most traders don't lose their bankroll to the market, but to the broker, and end up asking themselves what went wrong. If you pick the wrong timeframe without doing the math, you can lose money regardless of how good you are trading! Make sure to read why most intraday traders fail to select a timeframe wisely, before starting your trading activity. Keep always an eye at the relationship between the Average Absolute Excursion AAE and the Cost per tradeto avoid trading timeframes in which the mathematical expectation of your trading is negative. If you are a novice trader, you should seriously consider trading daily charts or H4 charts, in which the transaction costs are reduced to a minimum in relationship with the potential profits. With just a little work, you can obtain exceptional that. When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. This is what each parameter does. In order to build your expert advisor, you can read data from the indicator using the iCustom function as exemplified below. Read more information about the iCustom function here. A high-frequency trading strategy that allows traders to profit from pricing inefficiencies between two brokers. Fully-automated expert advisor which work breakouts of variable lenghts, based on our famous indicator bearing the same name. The triangular arbitrage strategy places risk-free trades in three related forex pairs to exploit temporary market inefficiencies. Our mission is to create top-quality and unique trading tools for the Metatrader Platform. If you like our free indicators and EAs, kindly consider buying a product to support our work. Receive free indicators and expert advisors directly to your inbox as soon as they are released. All original content on Pointzero-trading. Reproduction or re-publication of this content is prohibited without permission. Home Products Metatrader Indicator Day Trading. Who is this tool for? What that tool is not - It isn't a complete trading system - It isn't an automated trading system - It isn't an always-in-market indicator - It doesn't display exit points. June Last update: The PZ Day Trading indicator has been specially designed for scalping intraday charts and detects reversals in a Zig-Zag fashion, without repainting or backpainting at all. Amazingly easy to trade Optional continuation patterns can be displayed Chart statistics will help you to optimize your trading It works on every single timeframe without that tuning The indicator is non-repainting and implements alerts It includes a multi-symbol and multi-timeframe scanner The scanner scans all the instruments in the Market Watch It implements a multi-timeframe dashboard Based on breakouts and congestion zones of variable lengths, the indicator uses only price action to pick trades and reacts to the market extremely fast. No, it does not. There is no magic here. The indicator reacts to tops and bottoms which meet certain price patterns. Yes, the indicator does not repaint or cheat in any way. Trading the video there is a visual backtest, in which you can see that signals appear as soon as the last bar of the formation closes. Past signals are never hidden in any way. Losing trades are highlighted. By the time an opposite signal has taken place, it is already late to cash out the previous trade. Every trade must be managed and closed before the next one takes place. This is not an always-in-the-market indicator. It works very well on H4, daily or weekly charts. I get a lot of signals when I load the indicator into very small timeframes like M1 and M5, and the spread does not allow me to earn a decent profit from them. What can I do? You can switch to a bigger timeframe in which the spread does not kill the payoff, or you can increase the MinRange parameter in order to decrease the signals density. Trading trading does not necessarily mean earning more money, you have to find the best balance between the expected profit from your trades and the spread paid for each trade. Losing signals are simply part of the game, however they mostly take place when a trade has been triggered by a sudden spike bar which depletes the price movement or against double tops or bottoms. If you can avoid spike bars, you will do just fine. There is none by default. Confirmation of trades is up to you. Latency Indicators EA A high-frequency trading strategy that allows traders to profit from pricing inefficiencies between two brokers. Day Trading EA Fully-automated expert advisor which trades work of variable lenghts, based on our famous indicator bearing the same name. Join our mailing list Receive free indicators and expert advisors directly to your inbox as soon as they are released. 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