► Overview:

The Ultra Trend strategy is an advanced trading system designed to identify precise trend lines based on the average movement of prices and execute trades when the price decisively crosses these lines. It utilizes a combination of the Average True Range (ATR), Moving Averages, and customizable candlestick patterns, providing traders with a powerful, flexible, and intuitive approach suitable for various market conditions.

► Description:

The Ultra Trend strategy incorporates multiple technical analysis tools to provide an in-depth understanding of market dynamics and trends. At its core, the strategy leverages the Average True Range (ATR), a renowned volatility indicator that measures market volatility by analyzing price movements. By integrating ATR into the strategy, it dynamically adjusts to changing market volatility, ensuring traders receive timely signals that adapt to both high and low volatility environments.

Additionally, the Ultra Trend strategy uses Moving Averages to confirm market direction. This helps filter out false breakouts and ensures trades align with the broader market sentiment. The Moving Average can be customized to suit traders' individual preferences, allowing for flexibility in trend confirmation and minimizing the chances of trading against prevailing market momentum.

Traders can set the strategy to execute trades in alignment with the current trend, against the trend, or both simultaneously, enabling adaptability to a wide variety of trading styles, including trend-following, swing trading, and reversal strategies.

↑ Long Entry: A long (buy) trade signal occurs when a candlestick, known as the entry candle, crosses and closes above the identified trend line. This indicates a strong bullish market condition, signaling traders that the upward momentum is likely to continue, presenting a favorable opportunity to enter a long position.

↓ Short Entry: A short (sell) trade signal occurs when the entry candle crosses and closes below the trend line, signifying a bearish market condition. This action indicates potential downward momentum, alerting traders to initiate a short position to capitalize on expected price declines.

✕ Exit Conditions: The Ultra Trend strategy offers comprehensive and versatile exit management options. Traders can set their stop-loss using multiple methodologies, including fixed pip amounts, dynamic ATR-based calculations, or highs/lows from previous candlesticks. It also allows traders to automatically exit trades if price action reverses significantly, safeguarding profits and managing risks effectively.

Moreover, the strategy supports setting up to three distinct take-profit levels, configurable using methods such as fixed pips, ATR-based targets, or risk-to-reward ratios. This allows traders to lock in profits progressively and efficiently.

Additionally, advanced features like a trailing stop and break-even stop further enhance trade management. The trailing stop dynamically moves the stop-loss closer to the market price as the trade moves favorably, securing profits while allowing further upside. The break-even feature automatically adjusts the stop-loss to the entry price once a predetermined profit level is achieved, eliminating the risk of a losing trade.

Trades can also be exited proactively upon detection of trend reversals or if a candlestick closes outside a pre-defined trading channel, ensuring timely responses to changing market conditions.

► Features and Settings:

⚙︎ Trend: Traders have full control over trend detection parameters, including direction, length, sensitivity (factor), and slope, enabling precise tuning of trend-following capabilities.

⚙︎ Moving Average: The strategy integrates an Exponential Moving Average (EMA) to confirm trend signals derived from trend lines. Traders can enable or disable this feature, offering further validation to avoid false signals.

⚙︎ Entry Candle: Entry signals are based on customizable candlestick criteria. Traders can define the minimum and maximum size of the entry candle body and the ratio between the candle’s body and its total length. These parameters help ensure that only strong and meaningful breakouts initiate trades.

⚙︎ Trading Session: Users can specify particular trading hours to ensure the strategy operates exclusively during preferred market sessions. This helps traders avoid less liquid or less predictable market conditions.

⚙︎ Trading Days: This feature provides the flexibility to activate or deactivate the strategy on specific weekdays, helping traders avoid trading on days with historically lower liquidity or market volatility.

⚙︎ Backtesting: An integrated backtesting tool allows traders to assess the strategy's performance over historical data between specified start and end dates. This helps traders fine-tune their parameters before applying the strategy to live markets.

⚙︎ Trades: Traders can customize the direction of trades (long only, short only, or both), position sizing (fixed lot size or percentage-based), maximum open trades, and limit trades per day or per trend cycle to align with their risk tolerance and trading preferences.

⚙︎ Trades Exit: Multiple exit strategies are available, including predefined profit/loss limits, trade duration constraints, and automated exits based on trend reversal detection.

⚙︎ Stop Loss: Traders have access to various stop-loss configurations, including fixed pip stops, ATR-derived stops, and price-based stops using recent candle highs/lows. Additional functionality closes trades after a specified number of adverse candles to limit drawdowns.

⚙︎ Break Even: This protective feature automatically moves the stop-loss to the entry price once certain profit thresholds are met, ensuring capital protection without manual intervention.

⚙︎ Trailing Stop: The trailing stop dynamically adjusts the stop-loss as trades move into profit, locking in gains while allowing for potential additional profits.

⚙︎ Take Profit: Up to three take-profit levels can be set using a variety of calculation methods, including fixed pip amounts, ATR multiples, or risk-to-reward ratios. This structured approach helps traders secure profits progressively.

⚙︎ Alerts: The robust alert system promptly notifies traders about significant events such as trade entries, exits, or critical threshold breaches. Alerts include dynamic placeholders for essential trade details, such as specific stop-loss and take-profit prices.

⚙︎ Dashboard: A detailed, visually appealing dashboard provides real-time information on open and closed trades directly on the chart, empowering traders with clear insights into strategy performance and enabling quick, informed decision-making.