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Beacon

The indicator determines overbought/oversold zones on various timeframes.

Arrows show market trend in various time sessions: if the market leaves the overbought zone, the arrow will indicate an ascending trend (arrow up), if the market leaves the oversold zone, the arrow will indicate a descending trend (arrow down).

Situation on the timeframe, where the indicator is located, is displayed in the lower right window. Information on the market location (overbought or oversold zone), as well as the trend (bullish or bearish) is specified in the window.

The left window displays prospects of the market and analyses all timeframes. Probability of ascending or descending trend is determined on the basis of these data.

Attention: Beacon indicator is just an extra tool which works as a filter. Do not interpret its signals as true ones.

The indicator is adapted for different trading symbols.


Parameters:

  • X distance - Distance of X coordinate in pixels
  • Y distance - Distance of Y coordinate in pixels
Maksym Mudrakov
9725
2016.08.31 13:38 
 

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