Prometheus Smart Money

Description

https://www.mql5.com/en/market/product/16768

Prometheus Smart Money is an indicator that combines both price & volume with calculations based on other custom indicators, smart volume and retail volume to create this leading indicator that gives you high probability moves to help you make a decision on what is MOST likely to happen in the market going forward.

Advantages

• You can use it in ALL financial markets including binary options on ALL asset classes or instruments.
• You can use it as a stand alone indicator or as a confirmation tool with other indicators

Parameters

• Smart Volume Period – recommended period for accurate calculations is 10 or 20
• Retail Volume Period – set number of bars back to calculate retail volume default bars is set to 100
• Probability Alert – set probability screen alert on high probability potential trade setup which is ONLY triggered when smart volume, retail volume and high probability % are in confluence

Probability key

• 0% – 30% – low probability
• 30% – 60% – average probability
• 60% – 80% – high probability
• 80% – 90% – possible reversal
• 90% – 100% – strong trend

Entry requirements

• Focus on is the clusters on the indicator – the height of the bars and the number of bars in that cluster
• The recent clusters is compared to the previous clusters of bulls[blue] & bears[red] to determine who is in control of the market
• When the clusters of smart volume, retail volume & %probability are in confluence then you are looking at a high probability potential trade
• Entry should only be taken close to a key level – either after a breach of that key level or a bounce off that key level as shown on the charts it all depends on your strategy

Recommendations

• Back test on simulator FIRST then forward test on DEMO for at least 1 MONTH