HOW-TO : use signal section - script051 indicators

what we cover in this education post? Let's break it down:
1. Hero indicator: What is it?
2. Real analysis example + Optimize settings. (Don't miss this!)
3. Alert
4. FAQs: Common questions answered.

What's the hero indicator?
It's a cool tool that combines 9 different indicators.
Each of these indicators can help you gain a edge in the market, but they become super powerful when you combine them and create new strategies.
The goal of the hero indicator is to provide traders with ready-made strategies to use. And if they want, they can easily create different strategies based on their trading style.

Real analysis example + Optimize settings.
1.Display Section - Enable signal indicator

2.Change the whole color

3.Signal Length
Increase the length to capture less signals. This is useful if you only open one trade a day or if you're a position trader.
For scalpers, day traders, or swing traders, you can use lower values like mid-term, short-term, or super short-term.

4.Smooth
Enabling smooth applies a moving average to the signal logic, providing smoother results and filtering out some noise. Be aware that it may introduce some lag.
It also helps fix cases where the signal generates poor results due to price movements tricking the logic.

5.Noise
By turning on the noise function, you increase lag and potentially sacrifice accuracy, but it filters out sudden price movements.

6.Wait for confirmation
When enabled, buy and sell signals plot on the next candle instead of the current one. This uses the open price as the source instead of the close.
The indicator does not repaint any signals under any conditions. Once a signal is generated ,you can be sure the signal won't change.

7.TP/SL Zone and Signal R:R
Apart from entering trades, you also need stop-loss and target levels. You can turn on the zone to visualize these levels + You can adjust the risk-reward ratio by changing the R:R ratio. The logic for this ratio uses ATR (Average True Range).

Now let's move on to a real example.
As you can see, the indicator is simple to use. Just turn it on, optimize the settings, and wait for the next signal. Take a look at the chart below:
With our custom settings applied and stop and target levels set, we have a buy signal. Remember, in this educational post, we are focusing solely on the signal and not combining it with other technical concepts.
Let's check the result for this example:
I need to mention that this is not a holy grail strategy, and you can't win 100% of the time. What I showed you is a clean example, and markets don't always have strong trends. In choppy markets, around 90% of indicators fail and may need to be combined with other concepts (which I'll cover in another post).

Alarm
The signal also supports alerts, so you don't miss any signals.

FAQs: Common questions answered.
What's the difference between this indicator and Supertrend?
The difference lies in the logic. Supertrend prints signals based on ATR and the close price, whereas this indicator uses different parameters that allow users to find optimal risk-reward setups for trades.

Can I win every trade with this indicator?
No, you can't. This is not a holy grail. However, if you use it in combination with other indicators (watch out for the new education post I'll be sharing later), you can create a solid trading edge.