FxGlow Phase Index MT5
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 with the right strategy.
For more confirmed retracement signals, you can combine this with FxGlow Retrace Pulse.
You can check the strategy on this video link https://youtu.be/cRyBGMV_Ugg
Increase counter signal probability by combining with 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 the current bar is CLOSED
- DOES NOT recalculate
- Signals on CLOSE of a bar
- Works in ALL pairs
- Works in ALL timeframes
- Can be used for Expert Advisors
- Implements popup, email, push notification and sound alerts
- Period - number of bars used for the indicator calculations
- Max Bars - maximum number of history bars used
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.