Forex BDB First Wiseman for MT4 Indicator:
About the Forex BDB First Wiseman for MT4 Indicator
Bearish/Bullish divergent bar.
One of the signals of the “Trade Chaos” system of Bill Williams. (First wiseman)
When bar moving away from the “Alligator” indicator and there is divergence on the Awesome Oscillator indicator, it shows a potential point of movement change.
It is based on the opening/closing of the bar, the position relative to the previous ones, the Alligator and AO.
When trading, the entrance is at the breakthrough of the bar(short trade – low of bar, long trade high of bar), and stop loss is placed at the extreme point of the bar.
For more effective development of the system, read and see the materials of Bill Williams.
In the settings you can choose the color and Characters of Wingdings.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)