Top Bottom Protruder
Gives an early warning visual for new trading opportunities when the line extends outward at the upper or lower extremes (oversold/overbought) zones of the indicator window, and clear signs of a peak or trough is forming when the line becomes angled. (3rd and 4th pics below)
Features alert function.
Can be used on all time frames.
No need to set up the indicator.
How to use:
Simply attach to any chart.
When the blue line stops below the red line, and the red line protrudes/extends out, it signals buying opportunities.
When the red line stops above the blue line, and blue line protrudes/extends out, it signals selling opportunities.
Best results when entering trades from the upper or lower extreme of the indicator window, and taking higher time frames into consideration.
Use as you see fit for your strategy.
Best results on Major Pairs, but can also be used on other pairs.
Important to note:
Please do not use this indicator haphazardly. Make sure it compliments your strategy.
Don't risk money you cannot afford to lose.
You use this indicator at your own risk. Please apply money management wisely.
Always test your strategy on a demo account before using a new indicator on a live account.