Amazing Price Action
Amazon Price Action is an indicator that makes use of the “Price Action” logic in order to keep track of the price fluctuation.
It makes use of 3 indications:
- Fast - It is generated when the price exceeds the higher or lower level of the previous bar
- Slow - It shows which fast signal is the highest or the lowest
- Linear - It draws a line that represents statistics of the price’s fluctuation.
There’s no strict rule as to how to use the indicator, its use is purely discretionary.
There are no parameters that determine how to use the indicator; there are only display options:
- Show Fast PA? - Asks if you want to view the fast indication of the “Price Action”
- Show Highest/Lowest PA? - Asks if you want to view the slow indication of the “Price Action”
- Show line? - Asks if you want to view the linear indication of the “Price Action”
- Alert inside Bar? - Asks if you want to set an alert for the presence of “shadow” bars
Other parameters can be ignored as they’re styles options.
I’d recommend to use this indicator with graphics with a high time-frame, at least 30 mins, estimate access or closing of an operation/trade when the linear indicator changes, when it goes up (green) we buy and when it goes down (red) we sell.