3_Level_ZZ_Semafor - indicator for MetaTrader 4
It is a simple indicator that places semaphore points on the maximum and minimum of a higher, medium and lower period.
The basis of the zigzag calculation is the algorithm by klot.
Period1=5; Periods are set. If you want to remove a semaphore, set 0.
Dev_Step_1="1,3"; Deviation and step of each period are set. Two figures comma separated. Deviation and step are like in a simple Zigzag.
Symbol_1_Kod=140; The semaphore symbol on a chart can be changed. The figure is the current symbol code.
This indicator was written during the current work of creating an algorithm of an Expert Advisor according to the system "folding rule by Likhovidov".
3 Level ZZ Semafor Indicator
Download meta trader 3 Level ZZ Semafor Indicator
Download 3 Level ZZ Semafor Indicator
Looking for a method where you possibly can download free 3 Level ZZ Semafor Metatrader Indicator, well, you might have come to the right website. Now, you possibly can avail 3 Level ZZ Semafor indicator mq4 for Metatrader 4 or Metatrader 5 for free. This indicator is ideal for Metatrader 4 or even MT4 and also Metatrader 5 or MT5. In fact, this is suitable as well as performs well in other Metatrader versions readily available.
In case you are interested in regards to what the 3 Level ZZ Semafor will look like whenever you have it installed, we feature a photo of the installed indicator. If you’re not yet convinced to download the indicator, then you’ll be once you have seen the snapshot. Are you not happy with this type of indicator? Then it is best to check out our EMA indicator category for a lot more Metatrader EMA Indicators that you can choose from.
We already have as many as (5686) downloads and these days (1) individuals have already downloaded the 3 Level ZZ Semafor indicator in their Metatrader. If you would like to be part of the boosting number, you just need to go through the download selection as well as you will have the indicator in the laptop in an instant.
MTF MCP 3 Level Semafor Dashboard Alerts – gift for lovers of ZigZag
Good news for fans of the ZigZag indicator and its varieties! The indicator MTF MCP 3 Level Semafor Dashboard Alerts was released. Now you do not need to install ZigZag on all charts of currency pairs and constantly switch Timeframes. It is enough to set the indicator MTF MCP 3 Level Semafor Dashboard Alerts on one chart and it will show information on the main currency pairs on all available Timeframes. It is very convenient.
Characteristics of MTF MCP 3 Level Semafor Dashboard Alerts
- Platform: Metatrader4
- Currency pairs: Default 8 pairs (EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY, EURJPY), can be changed in the settings
- Trading Time: Around the clock
- Timeframe: All
- Recommended broker: Alpari
How to use the MTF MCP 3 Level Semafor Dashboard Alerts
For proper operation of the MTF MCP 3 Level Semafor Dashboard Alerts, the Semaphor 3Level ZZ indicator (supplied in the archive) must be additionally installed. I recommend installing using the template 3_Level_ZZ_Semafor_Alert.tpl (there is in the archive). Then exactly everything will work as it should. By default, the indicator shows information on 8 pairs (EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY, EURJPY) on all available Timeframes. This can be changed in the settings:
The indicator shows the price reversal (dot 3 on the chart) and accompanies it with the corresponding sign in the bottom information window at the bottom of the chart. Red - the price will go down, blue - the price will go up. In addition, an alert appears. Additionally, you can set up an alert for e-mail.
Of course, the MTF MCP 3 Level Semafor Dashboard Alerts as well as the ZigZag indicator cannot be a complete trading system. It needs additional filters.
In the archive MTF_MCP_3_Level_Semafor_Dashboard_Alerts.rar:
Free Download MTF MCP 3 Level Semafor Dashboard Alerts
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3 Level ZZ Semafor: Please, someone can explane well how it work?
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3 Level ZZ Semafor: Please, someone can explane well how it work?
Post by thor0073 » Thu Jun 15, 2017 5:04 pm
good day to all member,
my name is Andrea and i am new on this forum (and sorry for not perfect english)
my experience with forex is little, i start with EA and now i am try to trade manually with various system and method but WITHOUT any consistence return.
probably i am not again in the right way on how understand the rules and support/resistance and other (and honestly now i am very very very confused with all these material that i have read)
in the infinity search of a good system for trading i find the 3 LEVEL ZZ SEMAFOR made by TRO.
i have try to read some topic, see some video, BUT the problem is always the same: don't understand the correct ENTRY on the market for the REVERSAL trade.
i have download some indicator (really difficult to find because are split in various topic), download the template (with some different from what i see in the video and in the grabbed image on forum) and try to see how the price proceed and search the good entry for reversal.
complicated. it's complicated (for me. for other probably is how to drink a coffe)
i try to follow the rules:
- see the signal yellow 3 on chart
- go up with time frame to find the NO SIGNAL on bar
- go down to the previous bar and having the brown signal 1
- now i stay on this timeframe.
and after? what i do? i need to open directly a trade? need to check again the next timeframe? i need to search for pattern of reversal? how i can recognize if the trade is good or not? retrace is possible and make again a new yellow 3 signal.
3 level semafor forex indicator
by Apprentice » Mon Jan 30, 2017 4:50 am
3 Level ZZ Semafor Alert
This indicator will provide Sound and Email Alerts whenever a "3" signal is originated by the semafor indicator.
The trader can choose the current timeframe or a higher TF, this means that multiple instances can be added to be alerted from multiple TF's getting the condition.
Note: For it to work it is needed to have the "3_Level_ZZ_Semafor.mq4" indicator installed in the same folder. It can be found here:
Re: 3 Level ZZ Semafor Alert
by pippimp » Tue Apr 18, 2017 9:24 am
Thank you for this indicator. It it possible for you to create a dashboard across several pairs (definitely all majors) to track when a 3 is signaled on any pair?
User can designate which timeframe for each pair.
Thank you again!
Re: 3 Level ZZ Semafor Alert
by Apprentice » Tue Apr 18, 2017 12:11 pm
Re: 3 Level ZZ Semafor Alert
by Apprentice » Wed Sep 06, 2017 5:00 pm
This dashboard will show exactly in which pairs and time frames a Semafor Number 3 is showing up and will optionally produce a sound alert when it happens.
Semafor forex trading system
The semafor indicator is one of the most popular custom indicator there is, and I’ve used plenty of them. It is also very reliable if you can understand how to use it well, which is why an entire forex trading strategy has been based on it. In this semafor forex trading system, we’re going to look at the indicator itself in detail and see how it can be used in actual forex market trading.
About the semafor indicator
First, I’d like to correct some misconceptions about the semafor indicator itself. As I mentioned before, you can only maximize the benefits of this system if you understand how it works. Let me start with how it is represented. When you add the indicator to your MetaTrader 4 platform, it is represented by three pairs of circles. These circles have different sizes, colours and are also numbered from 1 to 3. Contrary to what people assume, the circles of the semafor indicator don’t indicate trend reversals but actually breakouts in market prices. (Breakout trading strategies)
Everytime a new circle is generated, that indicates that there has been a new either high or low created. Depending on the intensity of the breakout, the circles are also numbered from 1 to 3 in ascending order. This is where the colours of the circles come in. In my template attached along with the indicator in the archive at the bottom of this post, I’ve set the colours as such:
- first level breakouts (minor) – blue represents new low and brown, a new high
- second level breakouts (medium) – pink shows a new low while yellow, a new high
- third level breakout (major) – green represents new low and red a new high
The colours of the circles may seem contradictory, but they are actually supposed to indicate which direction markets may head and how to place your trades. The colours of the circles can still be changed, though, if you are using different colours on your forex charts. To make it easy, though, the size of the circles changes too to show the intensity of the breakout. (How to launch an expert advisor on MT4)
How to use the semafor indicator to trade
We now know what the semafor indicator is for, marking breakouts in the market, but how is that information useful? In a previous post, we looked at several breakout trading strategies. The semafor indicator just makes the process visual and easier to determine. Let’s assume, for example, that there is a major breakout to the upside and a red circle appears. This tells us that there has been a new high recorded, but it doesn’t necessarily mean that the trend is going to turn. The new high may have just been produced by a major event announced on the economic calendar forex. So, how do we use that information? (How to work with the economic calendar)
For that, we shall need an additional indicator that reduces noise and indicates clearly if there is indeed an actual trend in the works. Heiken Ashi! The Heiken ashi indicator changes the colour of the candlesticks so that they are not only visually different, but also smoother. The method of calculation for HA candles ensures that fake trends are filtered out, hence why we use it. (Uncommon technical indicators)
Therefore, together, these two indicators make up the semafor forex trading system. For example, when a new high has been reached, there is a likelihood the markets have been overbought. Your first instinct may be to sell immediately, but the forex market doesn’t work that way. Famous trader, Jesse Livermore, the bear of Wall Street, once said that the markets are never too low to sell, nor too high to buy. It is possible a subsequent high may be set after the current one. (How to protect yourself from margin call)
With the HA candles, though, any fake trends are identified. Continuing with our example, if a new high is set, wait for the HA candles to turn red to make sure the bulls have exhausted their buying power. Even then, wait for a few red HA candles to form before sending the sell order to your forex trading companies.
Practical example in an actual forex trading event
The market situation represented below is a good example of how the semafor forex trading system identifies breakouts for trading opportunities. In the particular case below, the markets remained within range all through even though the semafor indicator kept recording new highs and lows.
Every time there was a breakout, a circle would be generated by the semafor indicator, marking either a new high or low. Nevertheless, the support and resistance levels held strong and markets were unable to break past. Fast forward a few days later and there was an actual breakout. (Identifying the false breakout trading strategy)
Prices had already reached the resistance level that had held strong for days, but this time only a first level breakout circle had appeared. That meant that the resistance level was no longer the absolute high, and that higher highs were to come. The bulls were clearly in control, and we should have been looking for buying opportunities. For that, we would rely on the HA candles – waiting for them to turn white and show that there was a clear uptrend. As soon as that happened, there was a breakout to the upside, gathering hundreds of pips. (The Elliot wave theory and how to use it)
The ideal entry point would have been a few candles after the blue semafor circle on the forex trading platforms. If you were not at your trading station, though, a pending order to buy at the resistance level would also be ideal so that you would catch the breakout. Now that you’re in the trade, wait until the semafor indicator shows you that there has been a new high. In our case, it was a third-level breakout that confirmed the end of the downtrend. (How to draw S/R levels like a pro)
We can also see how the semafor trading system would have worked during a downtrend in the same image above. The support level was only a first level breakout, indicating more downward movement.
That’s it for the semafor trading system; go thee and gather yourselves some pips and come back only when you’re richer.
If you would like to see this tutorial explained in video, watch here: