King Ai Rose Hook
The brand new trading indicator using the Ross Hook strategy is presented by KING.Ai. This indicator were built base on the the theory of Ross Hook. Ross Hook difficult can by seen by human eye. Indicator can help to identical the pattern. KING.Ai Forex trader mainly use this strategy to "See Through" market. We do believe that it is a powerful method to predict price within few candlestick. Ross Hook were developed by Joe Ross, the most experienced trader since 1935. “Hooks” were created based on one of the popular patterns of chart analysis, known as 1-2-3. The 1-2-3 chart pattern formations are reversal patterns. There are two types of 1-2-3 formation: 1-2-3 high formation and 1-2-3 low formation. General speaking, Ross Hook have following using:
Method to apply (please also refer to the graphic):
- 1-2-3 high formation forms at the end of an uptrend move, it means that you this is a bearish/sell signal or you should expect the market to move down. For the 1-2-3 low formation forms at the end of a downtrend move, it means that bullish/buy signal and you should expect the market to move up.
- When the price will break past the high/low of point 2 in in the 1-2-3 high/low formation. It predict that the price will keep going up/down.
- The failure of the candlestick to continue going up down Ross Hook were created. It means price start goes up/down again according to previous 123 parttern.
KING.Ai Forex trader believe that such strategy can complement with other indicator to form a trading system. But You can trade directly using Rose Hook method:
- Place sell/buy stop order under or above  and [Rh] pattern. Please refer to the graphic.
Please do not use this indicator solely. You are recommended to integrate all your technical skills to determine the side of breakout, upward or downward, with trend analysis.