As you might know, a trading system is never complete until a proper exit method and target approach is fully developed.
One of the main tools and weapons for our Ultima EA is also the Bullseye target indicator which is based on Fibonacci tool and the Zigzag indicator.
The targeting tool is automated, fully rules based approach, and removes the guesswork from the equation when applying and searching for targets.
Although we cannot share the exact settings that are used for the target indicator in the Ultima EA, we will share the process behind the approach so you understand its value as a targeting tool and its value for the Ultima EA.
The Bullseye target indicator is a proprietary tool developed by Mislav. The indicator is a combination of the Zigzag indicator and Fibonacci levels.
Step 1: the Zigzag indicator is used for determining the price swings
Step 2: the Zigzag indicator is used for determining the trend for targeting purposes
Step 3: the Ultima EA trades aim for the Fibonacci levels. Closer levels are used for trading counter trend and further levels are used when trading with the trend.
I cannot overemphasize the importance of targets and knowing when to exit. The Ultima tool does that perfectly. I do not have any targeting tool that can even come close to it. Here are a few images that show how precise the levels work.
The cool thing is that the tool is an indicator that does all of the calculations for you – it plots all of these levels fully automated. That said, you will need to manually decide the settings and which Fibonacci level to aim for.
If you want to have a fully automated way of trading, then you might consider our Ultima EA, an automated trading system. Ultima uses the Bullseye target indicator as a target tool too.
See the video more information about the Ultima strategy, how it’s connected to SWAT, and the new target tool called Bullseye.
Here are the main advantages:
Ultima EA does not require any upfront fees or costs at the moment until you make profit (profit sharing module), which means that you only pay when profit is made with Ultima EA (on a monthly basis).
Not only that but an account has to make a new equity high (compared to the previous peak) before the profits are split. See the image for the structure.
It takes only 3 steps which can be found on the Ultima page too:
Or check out Bullseye target indicator.
Many green pips,
Team of Elite CurenSea