Breakout, Trend, Scalping (Expo)
Breakout, Trend, Scalping (Expo) gives insights about trend direction, trend strength, trend breakouts, and scalping impulses. The indicator is for traders that easily want to catch true breakouts, find reversals and retracements, and want to be able to gauge the trend strength. The indicator has various input sources: ATR (Default), VWAP, RSI, Average Trend and comes with Breakout Signals, Start of Trend Signals and Take Profit Signals.
Setting Panel Explained
- Breakout, Trend, Scalping (Expo)
After you have read about how the settings works, please check out the example settings at the end.
1.0 Input Settings
- Trend Filter Length – adjusts the gradient-coloring, this setting applies for all Inputs. A low value means Short Term Trend and the coloring responds faster to trend changes. High Value means Long Term Trend and the coloring responds slower to trend changes.
BTS Line Smoothness – adjusts the smoothness of the BTS Line, this setting applies for all Inputs except the RSI. A low value means less smoothness and more noise. High Value means that the BTS Line is smooth and filter out noise. This setting has an impact on the Signals! A smoother BTS Line, fewer signals, and less noise! However, a lower value means that the lines react faster to changes and hence you may get better entry/exit.
Important, If you have chosen ATR (Default) as the input you shall use part 3 in the setting panel “3. ATR (Default) Settings”
If you have chosen RSI or Average Trend as the input you shall use part 2 in the setting panel “2. RSI/Average Settings”
If you have chosen VWAP, the only settings you have to adjust are the Trend Filter Length and BTS Line Smoothness.
3.0 ATR (Default) Settings
ATR Length – If you have chosen ATR (Default) as input this value represents the Trend. 0 = ShortTerm Trend, 10 = LongTerm Trend.
Trend Mode – This setting adjusts the Trend (as well), it sets the underlying trend direction and how sensitive the calculation should be to trend changes.
4.0 Trend Color Settings
Color Mode – Blue/Red and Yellow/Red/Green work for everything. If you want to see the Impulses you have to choose the Green/Red color mode.
Sharpening/Smoothing Color Transitions – Low value means a sharp transition in the coloring. High Value = smooth transitions.
5.0 Enable Buy/Sell Settings
Various visual and Show Buy/Sell settings. Nothing that affects the calculations.
- Below you find some example settings
#1 Impulse Settings
1. Color Mode = Green/Red.
Notice: If you don’t see the impulse in the higher timeframe, like the above 1-hour timeframe, then you have to increase the Trend Filter length.
Most important settings for Impulses.
- Trend filter. Low Value = more precise impulses (occur less often). [Try 2]. Increase the Trend filter value up to 100. The value 100 gives you Longer impulses.
- Trend Mode – will increase or shorten the length of the impulse.
#2 Impulse (lower timeframe)
- Trend filter length = 20 (Works in Lower timeframes)
#5 Fast Trend
#6 Blue/Red Fast Trend
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