• 概述
  • 评论
  • 评论 (8)
  • 新特性

Bright Road

The indicator shows the direction and sustainability of the trend, as well as its reversals. Use the indicator to search for successful entries, the performance bottlenecks to minimize risk and time to exit deals. The indicator is never redrawn. It is an easy-to-setup visual tool for both novice and experienced traders It fits any trading style.

The indicator is displayed immediately at a candlestick open as two lines:

  • ROAD - smoothed movement. It is drawn as a solid orange line
  • BRIGHT - trend direction and strength A line of circles red, blue or yellow


Indicator Use

  • BUY - the BRIGHT line must be below the price and its color changes to blue
  • SELL - the BRIGHT line must be above the price and its color changes to red
  • REVERSAL - several yellow circles at a row.
  • UP TREND CONFIRMATION - candlestick opens above ROAD, when a blue circle is below ROAD
  • DOWN TREND CONFIRMATION - candlestick opens below ROAD, when a red circle is above ROAD

For additional indications, you can use line intersection - ROAD line crosses the rising BRIGHT line means a long-term trend.

I recommend using 2 screens when trading based on the indicator: identify trend changes on a higher timeframe, enter the market following the trend on a lower timeframe.


Indicator Settings

The indicator has only one configurable parameter:

  • DEPTH - the depth of history data analysis. The indicator requires a substantial depth of analysis, at least 30 is recommended. Defaults is 54 bars.


Warning

Bright Road is a trend indicator and may produce false signals during a long flat movement or in the event of sudden market movements (eg caused by news)

The indicator is not a complete trading system. It is strongly recommended to use it in conjunction with other indicators and check fundamental analysis.

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版本 1.3 - 2016.07.28
Added alerts and e-mail/push notifications when the line color changes.
版本 1.2 - 2016.03.10
Added two lines (buffers) showing channel boundaries in history.
版本 1.1 - 2016.02.16
Added automatic plotting of the price channel.
Use this feature to determine the flat and sideways movement.
The channel boundaries are a good choice for placing pending orders, Take Profit and Stop Loss.