Forex Icarus Strength Continuation MT4 Indicator

Forex Icarus Strength Continuation MT4 Indicator:

About the Forex Icarus Strength Continuation MT4 Indicator

The Icarus Signals Continuation(TM) Indicator is a simple, but highly effective tool for identifying strong price trends, both long and short, across all time-frames and instrument types.

The Icarus Continuation Indicator allows users to plot individual markers for each bar, when price has extended into a high-probability trend area, after a set level of extension. The Continuation Indicator  allows users to fully optimise each of the unique Icarus settings to best fit a particular trading style or instrument type.

Variable settings and optimisable inputs include:

  • 1. The Moving Average type (EMA, SMA, WMA & Lin Reg) being used as the primary basis to measure the Continuation background, and, critically, the measurement period -on any applied timeframe.
  • 2. The ‘Threshold’, being the value (set in 0.1 increments) determining the ‘steepness’ at which the Continuation values must be generated for a valid signal
  • 3. The ‘Consecutive Signals’. This unique feature allows traders and investors to apply their preferred level of ‘strength’ that the Continuation must apply before printing a signal. Ie: if the settings provide for the appearance of a signal on ‘Bar 1’, the user can adjust the appearance of the Signal to ‘Bar 1 + x’ to ensure that the appearance of the Signal continues in subsequent bars. This feature allows the strongest moves to be identified, and also often demonstrates key reversal areas. (See: Icarus Reversals(TM) Indicator for more information.
  • 4. The ‘Preemptive mode’ allows users to have the signals painted ‘live’ as a bar is closing, so that entries and/or exits can be set ahead of a bar close/open, depending on the trading style being applied
  • 5. The Continuation Indicator also has,  built-in, at no additional cost, the embedded code to filter out signals which appear during certain trade environments, as defined by the Icarus Bolli-Band Change Display(TM) Indicator.  (See: Icarus Bolli-Band Change Display Indicator for more information on how to apply this unique Icarus tool to your strategy suite.) This is an ‘on/off’ feature, allowing the user to implement it to best suit their trading and investing style

The Indicator has formed the basis for a range of different proprietary Icarus Signals Automated Strategies, across a range of instruments, and continues to provide flexibility and reliability in a range of market environments.

The ability to fully optimise settings to suit your particular trading style, time frame and profile gives you the ultimate tool to identify trends, reversal points and areas of high-probability price action. Users can customise the printing of signals to appear for ‘Long Only’ or ‘Short Only’ via the colour settings, allowing for alternate signal inputs for Long vs Short, ideal for identifying settings that best suit particular instruments and time-frames.

Be sure to check out the application of the Icarus Continuation Signal in combination with other powerful Icarus tools, providing a significant advantage to your trading and investing insight.  The application of the Icarus Continuation, Icarus Reversal and Icarus BolliBand Change Display are particularly useful for active traders, investors and system developers. 

If you have any questions, please don’t hesitate to reach out and we’ll assist in ensuring your investment in Icarus tools provide the best possible professional grade insight available.

Test results:

Forex Icarus Strength Continuation MT4 Indicator

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)

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