Any chart has patterns of consolidation which are also called accumulation patterns.
These are sections where the market has been on the same price level during significant amount of time, and thus it was accumulating positions. After such accumulation, positions are distributing, and the market passes from flat into trend.
The Consolidation Levels indicator is a professional tool which identifies these sections and builds levels according to the price of the market at the moment of consolidation. And these levels represent significant support and resistance levels.
The indicator is designed for intraday trading. Chart period is from 15 minutes to 4 hours. The indicator notifies when the price touches lines. It also has a pop-up Alert window, sends notifications to Email, and makes Push-notifications (Android and iOS smartphones).
Recommended to use on a 30 minutes chart of any trading instrument.
Indicator input parameters:
- Days - Number of days to display lines.
- Color line - Color of lines.
- Width line - Width of lines.
- Style line - Style of lines.
- Label - Display of comments to date and price lines.
- Notification - Select a notification, alert, sending to Email, Push-notifications