Distinctive MT5

Distinctive is a forex trending arrow indicator for identifying potential entry points. I like it, first of all, because it has a simple mechanism of work, adaptation to all time periods and trading tactics. Created on the basis of a regression channel with filters. Plotting the Lawrence indicator signals on a price function chart using a mathematical approach.

How it works - when the price breaks out in the overbought / oversold zone (channel levels), a buy or sell signal is generated. Everything is at the open prices, so there is no redrawing, and the signal is generated at the open price of the current candle. Also, the algorithm is created in such a way that signals for buy and sell must alternate, thus skipping unnecessary signals.

You can trade in any currencies, because the strategy is universal and shows entry signals, relying on price patterns. The main thing to understand is that the indicator parameters must be selected for each instrument and each timeframe. Suitable for trading on small timeframes because it ignores sudden price spikes or corrections in price movement by reducing market noise around the average price. The indicator can work both for entry points and as a filter.