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This indicator helps the trader to make the final decision. When you have already decided in which direction the price will unfold, it remains as accurate as possible to determine the reversal itself. This is the task performed by the Konkov indicator.

The indicator is installed on M1 and M5 charts.

                                                                                                                          Indicator parameters:

for M1 chart

  • time_frame1                  5
  • time_frame2                  5
  • time_frame3                  5
  • time_frame4                  1
  • EMA_Timeframe             0
  • MACD_Timeframe           0
  • Stochastic_Timeframe    0

for M5 chart

  • time_frame1                  15
  • time_frame2                  15
  • time_frame3                  15
  • time_frame4                   1
  • EMA_Timeframe              1
  • MACD_Timeframe            1
  • Stochastic_Timeframe     0

Other parameters are unchanged.

                                                                                                                         Proper use of the indicator

Set the indicator on the charts so that both charts are visible at the same time. The signal of the indicator is black vertical bars, as in the screenshot. To make them clearly visible, select a light background in the chart settings. Bands on both charts will be a reliable signal. It is desirable that there was a divergence.

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