Trend indicator IECO
The indicator is based on moving averages crossing the same period.
- Receiving data on the current trend. The indicator color informs us on the current trend. By default, green means a bullish, while red means a bearish trend. The indicator changing its color means a buy/sell signal;
- Build accurate support/resistance lines. Resistance levels are based on detected outstanding histogram peaks. The levels are built by Close prices of candles forming appropriate outstanding peaks;
- Detect reversal zones on the chart using the divergence signal.
The indicator allows you to quickly detect standard technical analysis patterns, such as flag, triangle, etc.