The Point61 indicator is the result of many years of monitoring of price behavior of currency pairs and metals.
It is not a secret, that in times of uncertainty, traders are looking for possible levels of support and resistance - the point, where price should stop its movement.
There are 2 possible scenarios at these points:
1. Reverse (correction) to the opposite direction;
2. Breakthrough to continue movement. Very often these points are used to set stop orders - TakeProfit or
Extended version for MetaTrader5 of famous Yellow Expert Advisor . The fully automated Yellow MT5 Hedge EA works on short-term trend changes creating the price channel set in the parameters. Trading is carried out at the external borders of this channel by opening positions in different directions with different lot sizes. The strategy is simple, but effective. With adequate money management, the probability of stable earnings is very high.
Presence of a sufficient number of parameters allow