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NostradamusMT4 is a powerful indicator from the set of professional trader. The indicator is based on Andrei Spiridonov’s original price calculation method (ESTIMATED PRICE) for the current candle price.
Advantages
- The indicator does not redraw.
- It works on any timeframes.
- Works with any trading instruments.
- Perfectly suitable for scalping and trading binary options.
Parameters
- Color – color of the ESTIMATED PRICE FUTURE line.
How to work with the indicator
The indicator forms the ESTIMATED PRICE (red by default) when a new candle appears – this main line serves as a guideline for the trader. Therefore, it is important to take all actions to open the trade positions as soon as a new candle appears. It also forms the ESTIMATED PRICE FUTURE line (yellow by default). While a candle is forming, the price of this line is variable and constantly changing depending on the market situation. When the current candle closes, it turns into the main ESTIMATED PRICE line.
The ESTIMATED PRICE FUTURE line is introduced for greater visibility. Using it as a guide, the trader can estimate when the main ESTIMATED PRICE line will be formed when a new candle opens.
As soon as a new candle appears, the ESTIMATED PRICE forms (for clarity, its price is indicated in the same color as the ESTIMATED PRICE line itself). This price is the guide for trading according to the indicator’s rule. On the M1-M15 timeframes, it is optimal to trade instruments with low spreads. Simply put, open a trade as soon as a new candle appears in the direction of the ESTIMATED PRICE line. Close the trade once the price reaches this line. One trade within one candle.
The indicator rule
During the formation of the current candle on any timeframe, the price is highly probable to touch the ESTIMATED PRICE level (red by default).
Example
- You are trading on the M15 timeframe.
- Wait for the new candle to open.
- The moment the candle appears, quickly open a trade position in the direction of the ESTIMATED PRICE line.
- The target take profit level will be the price of the ESTIMATED PRICE line, red by default.
- Perform only one trade within the candle formation time.
Important
In case both the ESTIMATED PRICE and ESTIMATED PRICE FUTURE lines coincide or are located very close to each other, it is necessary to wait for another candle to form, since you will not physically have the time to react to the price quick enough when making a trade.
