ForexGumpOopster - this indicator was developed to determine the trend direction and price pivot points on the H1, H4, D1 timeframes. The default settings are for the GBPUSD currency pair. For the EURUSD currency pair, the time frame H1, H4, D1 is recommended in the indicator settings to change the parameter "smooth = 5". This indicator is well suited for traders who trade on the scalping system. The arrows on the screen indicate the points of price reversal, and the lines indicate the direction of the trend.
The indicator operation algorithm:
ForexGumpOopster - built on the system of accumulation of tick volumes. The indicator calculates the balance between the usual price volume and compares this value with the current market. If the market volume grows, the indicator shows a buy signal; if the market volume decreases, the indicator shows a sell signal.
How to work with ForexGumpOopster:
- when a green arrow appears, open a buy order. TakeProfit set 40 points. StopLoss put 20 points from the green arrow.
- when a red arrow appears, open a sell order. Take profit set 40 points. StopLoss put 20 points above the red arrow.
ForexGumpOopster indicator settings:
- smooth - the smoothed volume value.
- bars - the number of bars on which the indicator is displayed.
- thickness_of_thick_line - thickness of the indicator line.
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