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Nikta is an indicator displaying the market situation.

It works on timeframes from M15 to H4.

Colored lines means the following:

  • Lime - acceleration of the price upward movement;
  • Green - steady upward movement;
  • Yellow - undefined state, trades are not recommended;
  • Magenta - acceleration of the price downward movement;
  • Red - steady downward movement;
  • Deep Pink - trend direction on a timeframe specified in the TimeFrame parameter.

The indicator represents a full-featured trading system which can be used both independently or as a supplement to another system.

The indicator can be used as follows:

  • When there is the Lime line - open a buy trade. You can look to the trend direction on a higher TF and skip contradictory signals.
  • When there is the Green line - you can also open a buy trade, but make allowance for the trend direction on a higher timeframe according to the Deep Pink line.
  • We do not recommend entering the market in the yellow area.
  • It is exactly the opposite for opening a sell position.
  • Exit the market when you receive an opposite signal or in case of the undefined state (yellow line).
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