This is an intelligent trend indicator based on Moving Averages and Bollinger Bands. The indicator does not redraw at all. In order to trade, all you have to do is watch for color changes. Go short when a thick red line is drawn over price action, and go long when the blue thick line appears under price action.
The indicator will show the trend, so therefore it is advisable that you must use an oscillator to provide for well-timed entries. Otherwise, the stop loss will probably be reached. Using this indicator with an oscillator will also keep you out of bad trades.
The indicator can be used for any financial instrument on M30 and higher timeframes.
- Added more user adjustable input variables to allow for more control and optimization options.