MTF TZ-CXThis is a Beta version of Trend Indicator using Multi Time Frame Analysis to suggest a long or a short
the main use of this indicator is quick scalping and Intra-day trading.
The Indicator shows the option to show the Trend Zone and Buy/Sell Signals which the use can on or off
Also to avoid false positives we have introduced a double check using RSI,
it is defaulted to 60/30 - the users are free to change it as per their preferences
The system will not suggest a trade when the the counter in inside the RSI limits
Stop Loss - That should be done by following ones risk appetite , Ideally the open/close of the previous candle should be the stop loss for the buy/sell
but everyone has their own Risk Management Strategies based on the capital deployed.
Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green .
In such scenarios , Please refer to the just preceding candle and if this candle is moving into positive direction (forming green candle) only then buy ,
Similarly Sell/Short only if this candle is forming a red candle
Commoditytrading
Buy and Sell scanner by ThunderTraderHumidity contains indicators:
Stocashtic RSI : is provided as background color, where the green is uptrend and the orange is downtrend
Buy/Sell Pole : the red line from top is signal for sell and green line from bottom is signal for buy
Humidity Ribbon : is price trend ribbon, if the ribbon touch or cross-down the bottom area (the red zone), means accumulation is started and best area to buy, but when ribbon touch cross up the top area (blue zone), means the uptrend is very strong. Ribbon cross down from top area can be used as breakout to sell and also ribbon cross up from bottom area can be used as breakout to buy.
Market Wave : is market circulation where 1 top and 1 bottom are equal to 1 circulation, if 1 circulation is ended then it will be best position to buy or if line touches the bottom, it can be used to buy and vice versa
