As you all know, the market has been "odd" lately, not giving many good setups. I ran across an indicator I've been testing against today's market and it seems to be "helpful."
I'm using it specifically on Gold and Silver trades. It's a simple indicator in which you trade opposite to indication. When red line is above Price, I Sell and when below Price, I Buy. That's it!
I've attached the indicator below. Demo it and see what you think. I've had best results prior to 12CST (NY-1 hr.), on TF30.
Observed Behavior: I've noticed that you need the red line to pass price and remain pointing in the opposite direction.. Set your chart to see the end of the red line. Whenever the end begins to form a "fishhook," it's time to consider leaving the trade as price will become wishy-washy. Then, wait for line to move past Price. And the further away, the stronger the trade.
I'm using it specifically on Gold and Silver trades. It's a simple indicator in which you trade opposite to indication. When red line is above Price, I Sell and when below Price, I Buy. That's it!
I've attached the indicator below. Demo it and see what you think. I've had best results prior to 12CST (NY-1 hr.), on TF30.
Observed Behavior: I've noticed that you need the red line to pass price and remain pointing in the opposite direction.. Set your chart to see the end of the red line. Whenever the end begins to form a "fishhook," it's time to consider leaving the trade as price will become wishy-washy. Then, wait for line to move past Price. And the further away, the stronger the trade.
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