Refractor looks for possible reversal levels of a tendency (not to be confused with trend). Tendency is a price direction on the current timeframe at the present time. The indicator is based on MA and ATR. When launched, the indicator examines the entire available history and evaluates a degree of a price deviation from a moving average, as well as its frequency. Dynamic levels are built after that.
The indicator is a good addition to an existing strategy.
- Rperiod - moving average period;
- Rprice - price type used in the indicator calculation;
- Rmethod - an additional smoothing method for the indicator
- Rdev_1 and Rdev_2 - ratios of deviations from MA. The greater the values of these ratios, the further the levels will be from MA (they are thicker than others on the chart);
- Count - amount of displayed bars;
- Use_Notification - enable/disable alerts when the price touches the channel borders.
- FIRST - alert when the price touches the borders of the internal channel;
- SECOND - alert when the price touches the borders of the external channel;
- ALL - alert when the price touches the borders of both the internal and external channel;
- OFF - disable alerts.
- Your_Message - the alert message to be shown when the price touches the channel borders. If left blank, the default message will be displayed;
- SoundAlert - enable or disable sound alerts;
- PushNotification - enable or disable push notifications;
- EmailAlert - enable or disable email notifications.