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Indicator 1
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The theory behind this indicator is that markets tend to move sideways much more frequently than they trend.
The Indicator identifies when price has been trending for too long and a consolidation period is expected.
Theoretical details: Sideways trend is generally a result of the price traveling between strong levels of support and resistance. It is not uncommon to see a horizontal trend dominate the price action of a specific asset for a prolonged period before starting a move higher or lower. Brief consolidation is often needed during large price runs, as it is nearly impossible for such large price moves to sustain themselves over the longer term.
About the indicator:
The indicator shows an arrow according to the direction price might retrace to and a value price might reach. The arrow is colored
Blue when there is about 50% chance for price to retrace;
Yellow when there is about 80% chance for price to retrace;
Green when there is about 100% chance for price to retrace;
Red when price has been trending for longer than usual;
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