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The Fast Detection indicator for Forex. It looks like Stochastic at first sight, but this is not so. This indicator has a completely different operation principle. In addition, this indicator is designed for quickest possible identification of the market situation (trend or flat). A distinctive feature of this indicator is that it shows the market situation at the current second, which allows to evaluate the real picture of the market. The indicator formula is based on the algorithm that calculates the strengths of "Bulls" and "Bears" and displays them in real time.
- Period - 10 - smoothness of the indicator display. (Optimal value is 10)
- CountBars - 300 - the number of bars in history used for the display of the indicator. (Optimal value is 300)
How to Use
The potential of the indicator operation lies in its simplicity.
- At the default settings, when the red line is drawn above the blue line, this indicates that the "Bears" have the upper hand in trading and the price is likely to go down. If the blue line is above the red line, respectively, this indicates that the "Bulls" have gained an advantage and the market is likely to go up.
- This indicator allows to see the dominant participants in the market: "Bears" (pressing the price down) or "Bulls" (pushing the price up). The perfect solution for trading with this indicator is combining it with the Fibonacci lines or similar indicators that show the support and resistance points, in order to better understand where a market reversal is going to happen.
- The indicator displays 2 critical points above and below. The closer the red and blue line to the upper/lower point, the stronger the bulls/bears are on the market. This also means that the market will reverse soon and the price will go in the other direction.
- Multi-timeframe display
- Multi-currency Indicator
- Displays the bull and bear power in real time
- Backtest directly on the chart
- Multi-timeframe trend analysis
- Possibility of combination with any indicators
- Displays the trend and the flat on the market
- Easy to use