This is a support indicator to the Main Indicator which has also been published.
This indicator uses a modified trendline and a smoothed momentum line (which combines , and moving average). This is a centred oscillator from -100 to 100 which makes it easier to track. The line is the quicker moving line which potentially acts as the first trigger. If the momentum line then begins to follow, then it is an indication that a trade should be made.
- Long Trades: The line is above 25 and the momentum line is greater than -25.
- Short Trade: The line is below -25 and the momentum line is less than 25.
Whilst an actual alert function is not set for the indicator, the TradingView alert function can be used to trigger a message when either the line or momentum line crosses -25/25 (the key levels).
I've been using this successfully on the one hour FX charts, but seems to work equally as well on higher or lower time frames (not less than 15min).
The other indicators which are part of the suite are shown on the website which is highlighted in my signature at the bottom of the page. Purchase of the main indicator gives access to the full suite of eight indicators. I use the other indicators to confirm the direction of the trade and to determine if I want to trade or not. I use it along with the 2min, 15min and 4hr timeframes to identify the best entry window and how long I'm likely to be in the trade.
Support can be provided via private message or in the comments below.
The links are provided below for access to the indicator.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Mikeo82 for more information, or follow the author's instructions below.
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Content on how to use the indicators can also be found on there.