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All in One Flag Trading v2

Overview

This document explains the concept and functionality of my All in One FlagTrading indicator.

The document does not explain the principles or methodology behind the FlagTrading methodology.

For a detailed thread discussing the merits and basics of this system please go tohttp://www.forexfactory.com/showthread.php t!"#$%&'

(). Any references to colors / *alues in this document relate to the default settings.

Concept

The idea behind the creation of this indicator was to ha*e one indicator that showedall the pertinent information that was re+uired to trade using the Flag Tradingmethodology.

,re*iously a number of different indicators and Forex -nowledge was re+uired totrade this system effecti*ely.

imply put 0 wanted an indicator that would show me all *alid pullbac-s as well as

1"'2s along with any di*ergence that may exist in one con*enient indicator.

Functionality

3hen this indicator is added to a chart it will show the user in clear and concisemanner the following

4alid etup )ars 5 6)7 Angle of pullbac-s 1"'2s both trend 8 countertrend

)ullish 8 )earish di*ergence 59idden / egular7 ;epth of

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Usage

IMPORTANT:

The control of the sending of alerts of possible trades is done at the le*el of >T? not per currency pair. To switch on the alerts go into the global *ariables 5F'7 and findthe *ariable @A0OFlagTradingAlert set to 1 if you wish alerts to be sent set to $ ifno alerts are to be sent.

Alerts are sent based on the current trend defined by the trend change line 5see belowfor detailed information on the trend change line7 alerts will only be sent foropportunities in the direction of the trend or for countertrend 1"' opportunities.

,ullbac-s 8 1"'2s are chec-ed for both long 8 short regardless of the defined trendthey are also highlighted regardless of the = re+uirement.

The first time the indicator is used on a particular currency pair a global *ariable will be created for that currency pair for the addition pips 5this is usually the a*eragespread for the pair7. Therefore after adding the indicator to a new currency pairensure you go into the global *ariables and set the *ariable @FlagTrade Addition xxxxxx 5where xxxxxx is the currency pair7 to the correct*alue.

The main indicator window can be split into ' different sections they are as follows

;i*ergence section

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There is the ability to chec- for di*ergence manually. This ability can be switched on8 off *ia the script pro*ided with the indicator.

0f manual di*ergence chec-ing is switched on " *ertical yellow bars will show on the

chart 5by default they remain ahead of the current bar until manually mo*ed7.

To chec- for manual di*ergence drag and drop both the *ertical lines on to the barswhere you wish to chec- for di*ergence. 0t will then automatically chec- and 5ifnecessary7 show the di*ergence that exists between the " points.

To remo*e the manual di*ergence without switching off the ability drag the " *erticallines bac- ahead of the current bar.

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>ain chart window

The indicator also plots on to the main currency chart window. On the main chart thefollowing information is displayed

1"' B numbers 1 " or ' are plotted abo*e / below candles that form part of a1"' pattern B the color of the number denotes the direction.

;i*ergence B the di*ergence lines from the indicator window can also be plotted on the main chart window the color coding remains the same as theindicator window 5this is parameter dri*en and can be switched off if notre+uired7

,ullbac- line B a white line will be displayed showing the last pullbac- thatwas calculated

Trend

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0ndicator parameters

Para!eter "escriptionxi >A The simple mo*ing a*erage period to be usedxi

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xc )ull