The Target Entry Elevator Indicator - Amazon S3Target+Entry+Elevator+Indicat… · Forex Precog The...

PRESENTS

The Target Entry Elevator Indicator

By Michael Nurok

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Forex Precog The Target Entry Elevator Indicator

www.forexprecog.com 3



INTRODUCTION

I developed the Target Entry Elevator (TEE) Indicator so it could help with your

advanced use of the Forex Precog trading system.

The Target Entry Elevator indicator enables a trader to enter trades when price

is not too close to the inception of a trend and not too far, but just right. When

used correctly, the indicator filters out all the trades where price was at a level

which was considered too risky to trade.

It also alerts you to every valid Trend & Swing trade that occurs on any

timeframe that you are trading so if you choose to trade manually, then the TEE

is an excellent indicator to use.

By using the Target Entry Elevator Indicator, you are alerted to every potential

profitable trade and therefore, you are likely to see your profits build as you

focus on the highest probability trades while filtering everything else out.

As always, my hope is that you take this information with this invaluable trading

resource and apply it to your Precog trading so it can positively contribute to

your overall results.



THE TARGET ENTRY ELEVATOR

How should you take Precog trades?

Manually based on the template and core indicators?

Or;

Manually based on the template, core indicators and Target Entry Elevator

indicator?

Throughout this Precog journey, I have been adamant about the necessity for all

members to take it slow and to learn the Precog system without any software to

provide alerts of trading opportunities. Now, it is finally the right time to start to

trade Precog with the aid of the TEE alerts.



TRADING WITH THE TRADE ENTRY ELEVATOR

What is the Target Entry Elevator?

It is the indicator that;

(1) Provides popup alerts within your Metatrader platform for all valid

Trend Trades and Swing Trades

(2) Displays Up or Down arrows on your chart for all valid trades

(3) Displays the Too Far and Too Close filters on new Trend Trades

Because you should now be familiar with the Forex Precog system and you

have hopefully also gained real trading experience with using the system, you

can enjoy the best of both words… the opportunity to take trades even when

you’re a little late on the signal bar, as well as the opportunity to closely and

accurately monitor all pairs on whatever timeframe you are trading, so you can

take advantage of market setups as they occur.

The Target Entry Elevator will only display alerts and on-chart arrows on the

1st bar after both the Ribbon and Predictor have changed colours. If not all

indicators are valid on that bar, it will not alert for a trade setup, even if the

very next bar generates a scenario where all indicators are valid. If this is the

case, you are still free to choose to take the trade but the TEE will not alert

you again until the next opportunity occurs on the pair and timeframe it is

installed on.



TRADE SETUP POPUP ALERT

When a valid Trend Trade or Swing Trade occurs, you will get a popup alert on

your Metatrader platform.

The following is an example of the popup alert.

At the top of the alert, you will see;

The name of the indicator creating the alert; the TargetEntryElevator

The pair; in this case, the EURJPY

The timeframe; in this case, the M15 (15 minute)

The date and time of the alert

The direction of the trade; SELL or BUY

What type of signal; Trend or Swing

The price where the alert occurred



Within the alert scrollable window, you will see the history of all alerts that

have previously been generated.

You will be able to scroll through these signals if you desire to look at trades

historically and it’s also a nice way of assessing market opportunities when

multiple signals occur simultaneously or within a close time to each other,

particularly if you have been away from your computer for a while.



BUY/SELL DISPLAY ARROWS

The Target Entry Elevator Indicator will display buy and sell arrows, based on

your specific criteria, directly on the chart for all valid setups, as the following

screenshot shows.

You can display Trend Trades or Swing Trades or both, and you can display

them based on particular settings you use in the Inputs section of the indicator.

The arrows become a great educational tool as you can see historically where

signals occurred and how the price went if you had taken the trade.



TOO FAR & TOO CLOSE ENTRY DISPLAY

The Target Entry Elevator Indicator will display the Too Far and Too Close

variables based on the inception of the trend.

The following screenshot shows 2 yellow horizontal lines that clearly highlights

“the sweet spot” for taking Trend Trades.

The Too Close variable is the line closest to the Ribbon.

The Too Far variable is the line furthest from the Ribbon.

You can adjust these lines in the Inputs section of the indicator.



INDICATOR SETTINGS

You can adjust all settings of the indicator.

Either; (a) right-click anywhere on the chart and click “Indicators List”, or (b)

press Control I

You will get this window popup on your chart.

Once this popup appears, either; (a) highlight TargetEntryElevator & click Edit,

or (b) double click on TargetEntryElevator

The TargetEntryElevator Indicator will appear… Click on the Inputs tab.

Under Authentication Settings; enter your email in the Email field and enter

your Clickbank Receipt number in the ClickBankReceipt field.

Note: please use the email you used when ordering. If you do not have a

Clickbank Receipt number, contact support on [email protected]

mailto:[email protected]



The first sections in the Inputs tab after the authentication, are Trend Settings

and Trading Style.

Leave Trade Trends as the default “true”. If you want the popup alerts, leave

AlertTrends on “true” otherwise change it to “false”.

Adjust the field “TooFarFromRibbon” to the number of pips from the Ribbon you

want the trade to be considered as a valid setup. If the price falls beyond this

value, the trade setup will not be alerted. For example, if you enter 20; the

trade will only be considered valid and alert you if the price is no further than

20 pips from the point of the Ribbon twist. Naturally, the bigger the timeframe,

the higher the value should be, and conversely, the smaller the timeframe, the

smaller the value should be. That is; 20 pips may be reasonable for the 5M or

15M but not possibly big enough for a 1 hour or 4 hour chart. If you want to

keep your options open, set it to a big pip value like 100 or 150.

As well, you should consider the pair being traded, as for example, 20 pips

may be reasonable for a EURUSD 15M chart but not enough for a Yen cross like

the EURJPY or a cross like the EURAUD.



Adjust the field “TooCloseToRibbon” to the number of pips from the Ribbon that

the price must at least be, to be considered as a valid setup. As the Precog

rules state, it must be at least equal to the Ribbon (ie; 0.0) however you may

want to force the trade setup to only be considered if it is at least 1 pip or 2

pips or 5 pips away from the Ribbon. If the price falls closer to the Ribbon than

this value, the trade setup will not be alerted. For example, if you enter 5; the

trade will only be considered valid and alert you if the price is at least 5 pips

away from the Ribbon. If you want to keep your options open, then leave the

value as 0.0 or 1.0 to catch as many setup alerts as possible.

You can choose to display the Too Far & Too Close variables by leaving the

settings as “true” or you can individually disable the display of these variables

by changing the fields to “false”.

You can choose the colour to display these indicators on your chart as you

wish.

In the Trading Style section, leave the ConservativeTrading field as “true” if you

only want to be alerted of conservative style trade setups. If you want to get

alerts for aggressive style trades, that also include all conservative style trade

setups, change the ConservativeTrading field to “false”.



The following displays the next section which is the Higher Time Frame

settings.

You can leave these settings as the defaults however if you want to change the

Higher Time Frames, you can adjust the HigherTF1, HigherTF2 and HigherTF3

fields to any of the timeframes as long as the shortest timeframe is placed in

#1 and they are listed from shortest to longest. You should also change the

values on the ForexPrecogHTF indicator to the same values if you choose to

change the HTF values.

The values to use in the fields are;

M15 (15 minute)

M30 (30 minute)

H1 (1 hour)

H4 (4 hour)

D1 (daily)

W1 (weekly)

M (monthly)



You can also adjust the values in the fields; PipRequirementHTF1,

PipRequirementHTF2 and PipRequirementHTF3 if you want to be more certain

of a trend being in place. The bigger the number (pip value), the more “in

trend” the higher timeframe is. However, I would not suggest changing this

much. You can increase the D1 value from 3 to 5 or even 10. You can increase

the W1 value from 5 to 10, 15 or even 20. If you use the monthly Higher Time

Frame, then I suggest at least 10 for the value but you could increase that to

15, 20 or even 30.

These values are specific to the trend in each time frame and if the price falls

within these values, you will notice the blue bidirectional arrows being

displayed for the trend on that specific time frame.

If you’re not sure, leave the values as they are, as these are the defaults I

typically use.

Following is a screenshot of the next sections that are the Swing Settings,

Sunday Trading and Display Arrows sections.



If you want to be alerted of Swing Trades, leave the “TradeSwingWithinTrend”

field as “true”, otherwise change it to “false”.

The “MinSwingBarsSWT” denotes how many preceding MACD histogram bars

need to be contrary to the signal bar colour. Leave it as the default “2” unless

you want to reduce it to “1” or increase it to however many histogram bars you

want to see before a Swing Trade is alerted.

The “MoveTooBigPipsSWT” field represents the size (from open to close) of the

swing bar on the chart. If you want no maximum cap, then leave it as the

default “0” however if you don’t want to be alerted to Swing Trades that are

over a certain pip size, then change the field to this value. For example, if you

don’t want to consider Swing Trades where the Swing Trade bar is over 50

pips, then change the field to “50” and so on.

Leave the “AlertSwingWithinTrend” field to “true” unless you don’t want Swing

Trades to alert you, in which case, you should change it to “false”.

Leave the “TradeSunday” field as “false” if you don’t want alerts on Sunday

however if you do want alerts on Sunday, change the “TradeSunday” field to

“true”.

In the Display Arrows section, leave the fields “ShowBuys” and “ShowSells” as

“true” if you want to see all arrows. If you only want to see Buy arrows, then

change “ShowSells” to false. Conversely, if you only want to see Sell arrows,

then change “ShowBuys” to “false”. This is handy if you are only interested in

going buying a pair, or conversely, if you are only interested in selling a pair.



Finally, the last section is General Settings, as follows.

If you want to disable all alerts, change the “DisableAllAlerts” field to “true”.

You should consider doing this if you are also running the ESP software on the

same chart and have the ESP alerts activated.

The “MaxBars” field displays all the arrows historically. Leave it as the default

“500” which will display all the buy/sell arrows over the last 500 bars of the

chart on the timeframe you are using. However, if you find your computer

running too slow, you can decrease this to 250 or even 100. Conversely, if you

want to show more historical setups, then change it to 750 or 1000 or higher.

If you want to view all arrows, then change it to 0 however this can

significantly slow down processing when loading your platform or changing

timeframes. If you find your platform becoming sluggish, change the value

back to the default 500 or lower.



CONCLUSION

As a manual system with no alerts, Forex Precog can generate very good results,

however if you want to be alerted of trade setups on multiple charts, the Target

Entry Elevator Indicator is an excellent resource that can significantly help the

monitoring of opportunities in real time so you can take advantage of market

opportunities as they occur.

Just remember that having these alerts in real time can provide you with many

more trade setups than you would probably normally consider so be careful of

not overtrading and stick to the principles you have learned during your Forex

Precog training.

All software will be updated as required so if there is something you would like

to see in new versions of the Target Entry Elevator, or if there are any issues you

think you have discovered, please let me know by posting your results in the

forum and we’ll do our best to incorporate new features and resolve any issues

as quickly as possible.

I look forward to continuing to see you generate positive results with the Precog

system.

Good trading & live well,

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