In the world of finance and trading, it is crucial to have access to reliable and accurate tools to make informed decisions.
MavilimW Indicator is one such tool that traders use to analyze the market and make the most out of their trades. It is a powerful indicator that plots the smoothed weighted moving average combinations of various Fibonacci levels, making it an excellent tool for traders looking for support and resistance in long-term trading.
The application of Fibonacci levels to weighted moving averages is what sets MavilimW apart from other indicators.
This innovative approach helps traders to identify significant resistance and support levels in the market, making it an indispensable tool for anyone looking to stay ahead of the game.
How to use the MavilimW Indicator?
The MavilimW Indicator is easy to use and comes with a range of customization options. Traders can manually set the sensitivity of the indicator by changing the first two parameters. In the settings, you can also, add the original version by checking the "Show previous version" button.
The indicator calculates the Fibonacci levels automatically when you change the two parameters, making it a convenient tool for traders of all levels.
One of the most significant advantages of the MavilimW Indicator is its color-coding system. The indicator comes in two colors – blue and red. Blue signals an uptrend, while red signals a downtrend. This makes it easy for traders to interpret the data and make informed decisions based on the color of the indicator.
The parameters for the MavilimW Indicator require that the first parameter be equal to or less than the second. Some common examples include 0,1, 1,1, 1,2, 2,3, 5,5, and others.
Adjusting the parameters influences the sensitivity of the indicator towards buy and sell signals. Increasing the parameters results in a reduced sensitivity towards buy and sell signals, but an increased potential for the indicator to act as a support or resistance line.
Conversely, decreasing the parameters increases sensitivity towards buy and sell signals, as indicated by changes in the color of the indicator.
MavilimW Indicator at Traderlands Strategy Creator Tool
You can start creating a strategy by selecting the "MavilimW" indicator from the list. An example strategy is shown in the image below. You can use the MavilimW indicator to create a strategy after doing your own research.
Enter Algorithm Rules You Can Add To Strategy Creator
Exit Algorithm Rules You Can Add To Strategy Creator
WARNING: The entry and exit strategies in the images are prepared ONLY for educational purposes to explain how indicators work. It does not guarantee any profit.
When creating an algorithmic trading strategy, a rule set is usually created by using more than one indicator.
In conclusion, MavilimW Indicator is an essential tool for anyone looking to succeed in the world of trading. Its innovative approach to combining Fibonacci levels with weighted moving averages makes it a powerful indicator that provides traders with reliable support and resistance levels. Whether you are a seasoned trader or just starting out, the MavilimW Indicator is a tool you cannot afford to miss.
TradingView: https://www.tradingview.com/v/IAssyObN/