Golden section Track
Golden section Track indicator is a main chart indicator for MT4.
It is calculated according to the moving level line of every 20 (input parameter) candles with golden section.
The short name of the indicator is GS Track.
The track is consisting of four equidistant index lines, two lines on the upper half to indicate long, the two lines on the lower half to indicate short. Their labels are Up1, Up2, Dn1 and Dn2.
This indicator is simple and intuitive. There is only one external parameter, which default value is 20. No future function.
Running the indicator requires the number of the K columns on the chart to be more than 100. The indicator can be used for all the Forex symbol and timeframes.
The basic usage is as follows
- When the K column is Yang (positive), which solid part crosses upwards the Up1 line, may long.
- When the K column is Yin (negative), which solid part crosses downwards the Dn1 line, may short.
- When the K line entities is above the Up2 line, and the upward trend of the Up2 line has been to slow down or gone flat, you may close the part of the long orders.
- When the K line entities is below the Dn2 line, and the downward trend of the Dn2 line has been to slow down or gone flat, you may close the part of the short orders.
The indicator's advantage is to better combine the market oscillations and trends; it has a better filtering effect on the oscillation market, and is able to perfectly seize the trends.