FxGlow Zone Barrier MT5
This unique indicator detects overbought and oversold using adaptive support and resistance calculated from market volatility.
Indicator visually shows zones so we can anticipate price before it becomes overbought/oversold.
To achieve more accurate trading, please use this tool in addition or support to the system you are using. This tool will perform better if combined with the right strategy.
To further boost the efficiency of this tool, you can combine this with FxGlow Reversal Edge.
You can check the strategy on this video link https://youtu.be/QhP59H2yKCo
You can also use this as an alternate Exit to other indicators, please check this link https://youtu.be/GW_r0VytxiY
- Detects overbought/oversold conditions
- Adaptive Support/Resistance
- Can be used as alternate Exit Strategy to other FxGlow Indicators
- DOES NOT repaint after a current bar is CLOSED
- DOES NOT recalculate
- Signals on CLOSE of a bar
- Works in ALL pairs
- Works in ALL timeframes
- Can be used for Expert Advisors
- Implements popup, email, push notification and sound alerts
- Period - number of bars used for the indicator calculations
- Max Bars - maximum number of history bars used
How to use
- Support/Resistance Zones = zones where the price may react
- Overbought/Oversold Zones = shaded zones once the price touches it
- Overbought = we can look for selling if it is confirmed by our market analysis
- Oversold = we can look for buying if it is confirmed by our market analysis
This indicator is a manual trading tool that can be used in many ways.
To test its effectiveness to your current trading systems, please take time to test the free DEMO first.