Chainsaw 2 AM

A quick indicator with simple settings that does not take up much space in the working window and is displayed as simply as possible.

The indicator analyzes the ratio of maximum and minimum prices for selected periods.

Visually, the indicator is similar to its first version (Chainsaw AM), but a completely different principle is used for calculation.

The indicator allows you to clearly determine the medium/short-term trend and support/resistance levels at points where the trend direction changes.

Indicator:

• does not redraw;
• has the ability to send messages to the terminal and email;
• can be useful for both beginners and experienced traders.

Visually, the indicator represents two histograms corresponding to a fast and a slow signal.

The histogram is above zero - the trend is upward.

The histogram is below zero - the trend is downward.

On the bar on which the trend change occurred, the indicator gives a signal in the form of a histogram peak and a mark on the price chart.

The mark on the price chart is a reasonable level for setting a protective stop order or reversal order.

Indicator signals require confirmation in the form of the price breaking the high/low of the bar on which the signal was sent.