Platoon
- Indicators
- Version: 1.0
- Activations: 5
Platoon is an indicator designed to be able to detect a bottom or top similar to the Fractals indicator, but of course a different algorithm is used. In other words, you should not enter into a buy deal if the fractal is below. And you should not enter into a sell deal if the fractal is higher.
The indicator only denotes fractals on the chart without performing any additional calculations, therefore, theoretically, any trader can find these patterns by himself. But what is a fractal, how exactly is it determined on a chart, and what is its use for a trader? Why define these local lows and highs at all?
The fact is that each such top or bottom is for traders something like a symbolic mark, a reference point towards which the trend will strive in the future, but which will not be so easy to overcome. In this regard, fractals are similar to key levels (which are often built exactly on the basis of local minimums and maximums).
When making a deal, the trader will analyze the price behavior in relation to the fractal. For example, if the price goes up and rises above the last local top, this indicates that the trend is strong enough to travel a certain distance, so it is advisable to open a buy position.
