By // compassfx.com/dots
Trading Rules :
- The DOTS Levels are based on the selected Daily Open: Australian, Tokyo, Midnight New York, Europe, London, or U.S.
- Enter trade at Buy Entry or Sell Entry levels.
- Exit trade at Stop Loss level.
- Consider a partial or full exit at Target 1.
- Consider exiting full position at Target 2.
- Consider re-entry if the market maintains the Daily Open bias.
[What does this mean? If price retraces towards the Daily Open but bounces back in the
original direction away from the Daily Open, then consider trading again in the original direction when the Buy Entry or Sell Entry is reached.]
- Use other indicators such as the Trader Dynamic Index to confirm trend and market direction.
This version requires the Broker GMT time difference to be set manually so the time session features can work with all brokers.
First add it to a chart and you’ll notice the clocks show at the top left, if your broker time is not showing correctly (compare it to the time in the Market Watch at the top left of your platform), then make a note of the difference it is to the GMT showing on the cloaks, most brokers are normally ahead of GMT, enter that difference in the ‘Broker_GMT_offset’ entry and check the broker time is correct.
The chart clocks can now be turned off in the indicator settings if you want to keep them on and prefer a brighter background color than that can also be changed in the settings.
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