The indicator searches for short-term market movements like:
- trend-like movement
The calculation is based on support/resistance levels which are in turn determined using certain candle patterns.
The fundamental task of the indicator is to determine the direction of a trade. The indicator does not provide you with a preferable trend direction but rather hints at the direction of the next trade you are looking forward to making.
Example: The indicator shows the upward movement on Н1. We switch to М1, М5, and М30 timeframes and wait for a correction. The entry is performed at the correction breakthrough. A stop is placed at the correction's extremum.
The indicator is convenient for the intraday trading using a simple support/resistance breakthrough or position averaging strategy.
The indicator does not repaint, and the levels marked by the indicator are support/resistance ones.
It is convenient both for beginners and professionals.
- HISTORY - history depth, 0 - entire history.
- colorHigh - downward movement pointer color.
- colorLow - upward movement pointer color.
DIGITS - digits