Mid Line Indicator
The Mid Line Indicator shows the 50% retracement on an impulse wave.
Mid Line Indicators of different periods from M1 to H1 are shown on M1.
Trade the previous most high Mid Line for short.
Trade the previous most low Mid Line for long.
Suitable for signals coming from BiDirectional Indicator.
This indicator is preferably used for placing limit orders at levels that are far from the market.
You will notice that this indicator does repaint every time it computes the impulse waves. It is as intended.
- Set the period for the Mid Line (M1 to D1 are provided. But you should use M1 instad of H1 if you are doing scalping on M1).