Price Action Real Power
PRICE ACTION REAL POWER is an indicator that works on the author's exclusive algorithm for determining trend movements.
Unlike other traditional indicators, PRICE ACTION REAL POWER doesn’t analyze the quotes of a currency pair, but calculates the specific weight of the currencies in a pair concerning to the entire market basket!!!
Further - the received value about the true strength of the two currencies included in a currency pair is compared to each other in the form of a special chart, which defines the beginning and the end of trend movements much more accurately and faster.
Benefits of PRICE ACTION REAL POWER
- Shows the beginning and the end of a trend earlier than most other indicators.
- Resistant to flat and sawtooth trends, in which other indicators get confused and show conflicting data.
- Resistant to speculative zigzag price spikes.Non-repainted! You can check for on a long history of quotation.
- Works well on the timeframe from M15 and higher.
ATTENTION: PRICE ACTION REAL POWER doesn’t work in the MT4 tester, as in Meta Trader 4 strategy tester is impossible to analyze the entire market basket at once!! Thus, the PRICE ACTION REAL POWER indicator only works on live quotes.
For the convenience of tracking the beginning and the end of market cycles, the indicator has special built in alert, which, in the form of an audiovisual signal, will inform you in time about the emergence of new conditions for trading!
settings of the PRICE ACTION REAL POWER indicator:
- Alert_level - audiovisual signal level
- Power_Method - method for calculating currency strength
- Power_Price - smoothing parameter for calculating data of market strength
- Power_Fast - period of fast line of the indicator
- Power_Slow - period of slow line of the indicator
- USD EUR GBP CHF JPY AUD CAD NZD TRUE / FALSE - enable / disable currency for weighted analysis of a basket of market currencies
- History_bars - the number of bars displaying the strength of the market
2. Added alerts about reaching target levels by quotes.
Attention - levels are optimized for H4 timeframe. To use this levels on other timeframes, change their values.
2. Added scoreboard display information on charts.