Refractor looks for possible reversal levels of a tendency (not to be confused with trend). Tendency is a price direction on the current timeframe at the present time. The indicator is based on MA and ATR. When launched, the indicator examines the entire available history and evaluates a degree of a price deviation from a moving average, as well as its frequency. Dynamic levels are built after that.
The indicator is a good addition to an existing strategy.
- Rperiod - moving average period.
- Rdev_1 and Rdev_2 - ratios of deviations from MA. The greater the ratios, the closer the levels to MA (they are thicker than the others on a chart).
- Count - amount of displayed bars.