Prometheus Smart Money
Prometheus Smart Money is an indicator that combines both price & volume with calculations based on other custom indicators, smart volume and retail volume to create this leading indicator that gives you high probability moves to help you make a decision on what is MOST likely to happen in the market going forward.
- You can use it in ALL financial markets including binary options on ALL asset classes or instruments.
- You can use it as a stand alone indicator or as a confirmation tool with other indicators
- Smart Volume Period - recommended period for accurate calculations is 10 or 20
- Retail Volume Period - set number of bars back to calculate retail volume default bars is set to 100
- Probability Alert - set probability screen alert on high probability potential trade setup which is ONLY triggered when smart volume, retail volume and high probability % are in confluence
- 0% - 30% - low probability
- 30% - 60% - average probability
- 60% - 80% - high probability
- 80% - 90% - possible reversal
- 90% - 100% - strong trend
- Focus on is the clusters on the indicator - the height of the bars and the number of bars in that cluster
- The recent clusters is compared to the previous clusters of bulls[blue] & bears[red] to determine who is in control of the market
- When the clusters of smart volume, retail volume & %probability are in confluence then you are looking at a high probability potential trade
- Entry should only be taken close to a key level - either after a breach of that key level or a bounce off that key level as shown on the charts it all depends on your strategy
- Use it on 1 minute or 5 minute chart for the better performance
- Test this indicator on a demo account first for at least 2 weeks. Practice makes perfect.
Improved on smart volume reading
Increased the font size on retail volume and probability display
Added panel color change option