Beta Bands

This indicator shows main trend, entry zone and exit zone.

This is a muti-timeframe indicator, so it is always repainting in the current period of the higher timeframe.

Features

• Colorful Histogram: it indicates the main trend, the tomato means the market is bearish,and the sky blue means the market is bullish.
• Inner Blue Bands: it is entry zone for entry market, the market is relatively safe for entry.
• Outer Yellow Bands: it is exit zone for exit market, the market is oversold or overbought.

Settings

• AutoMatchTimeFrame: if true,the indicator will automatically select a higher timeframe
• InpTimeFrame: input timeframe by users if AutoMatchTimeFrame is false.
• BullColor: the color of histogram in bullish market (default is sky blue).
• BearColor: the color of histogram in bearish market (default is tomato).

Usage

Entry the market when the price is in the inner bands. If the price reached outer bands, order should be closed.

The key of trading is to select a proper timeframe. Of course, you may create your strategy based on this indicator.