Semaphore Trend Signals from Prior-Bar Range Deviations

Summary

This document describes a semaphore-style trend signal indicator. Its calculation compares the preceding candle's size and its High and Low deviations with a threshold expressed in relative units. A configurable stop level sets the triggering threshold, while a Boolean variation setting selects between two calculation algorithms.

The note identifies the indicator as having first appeared in MQL4 and gives its initial publication date, but it does not explain the two algorithms in detail or show how signals perform. There is no chart evidence, backtest, asset specification, or guidance on parameter selection. Readers can learn the indicator's broad input logic, but should not infer profitability or robustness from this description alone.

Key ideas

• The indicator generates semaphore-style trend signals using the preceding candle's range and extremes.
• A relative deviation threshold controls when a signal triggers.
• A configurable variation flag selects between two calculation approaches.
• The description gives no performance evidence or parameter-selection guidance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.