Fishnet is an indicator that can predict the next candle direction with high precision. it can be used specially by Binary Options Traders, forex Scalpers, or even Day Traders who want to enter the market with the least stoploss and the most accuracy!
as you can see in the images it can signal at the end of trends so you can use it as a part of a strategy or even a complete strategy in forex market. signals start at the end of the candle and the beginning of new candle.
also it can predict higher time frame as good as lower ones so when you see an arrow at the end of the week it can be a good reason to have a reversal trend for the next week!
it doesn't have any lagging or repainting as it uses only the last candle to predict the direction of new candle so you can use its accuracy to estimate the probability of the direction of the new candle!
it recommended to use 5 min EURUSD or 5 min GBPUSD, but you can check other pairs and time frames and you can simply find new pairs and timeframes with high degree of precision.
- Distance - the vertical distance of the tip of signal arrow from the relative bar.
- DoAlert - determine to give signal alerts or not
- period - the number of bars used for the indicator calculations.