FxGlow Phase Index
This unique indicator calculates market phase level symbolized by simplified histograms.
Algorithm uses complex momentum, strength and rate filters.
To achieve more accurate trading, please use this tool in addition or support to the system you are using. This tool will perform better if combined to the right strategy.
For more confirmed retracement signals, you can combine this to FxGlow Retrace Pulse
You can check the strategy on this video link https://youtu.be/cRyBGMV_Ugg
Increase counter signal probability by combining to FxGlow Climax Counter
You can check the strategy on this video link https://youtu.be/LuP42obr-HI
- Determines market phase levels
- Determines strength of trend
- Adaptive algorithm to price action changes
- DOES NOT Repaint after Current Bar is CLOSED
- DOES NOT Recalculate
- Signals on CLOSE of Bar
- Works in ALL pairs
- Works in ALL timeframes
- Can be used for Expert Advisors
- Implements Popup, Email, Push Notification and Sound Alerts
- Period - the number of bars used for indicator calculation
- Maximum History Bars - the maximum number of past bars used
- Display Histogram Legend - Show/Hide symbol legends
- Activate Alert Box - Enable/Disable MT4 popup alert
- Activate Email Alert - Enable/Disable alerts send via email
- Activate Push Notification - Enable/Disable alerts send through your smart phone
- Activate Sound Alerts - Enable/Disable audible alerts
- Sound Alert File Name - file name of sound to be played
How to use
- Uptrend Phase
- Flat Uptrend = No trade. Price action is not clear
- Steady Uptrend = We can buy. Price action confirms uptrend
- Impulsive Uptrend = Strong sign of buying. Increased bullish probability
- Downtrend Phase
- Flat Downtrend = No trade. Direction is choppy
- Steady Downtrend = We can sell.
- Impulsive Downtrend = Strong sign of selling. Increased bearish probability
This indicator is a manual trading tool that can be used in many ways.
To test its effectiveness to your current trading systems, please take time to Test the Free DEMO first.
Changed some input names
Added the buffer index number on the "About" section for developer purposes