Day_Tracker_ Advance Indicator shows overall trend or market direction for Intraday / Swing Position along with Buy or sell signal.
Terminology Use ==> B- Buy, S- Sale Signal, and Numbers are to show time frame indication there is presence of buyer or seller like B1 for buy signal on 1 minute time frame etc.
Display and Interpretation ==>
This indicator help to identify 4 major things:-
1. Area of order Buildup 2. Price Strength 3. Direction 4. Volatility
There is 1 dot in chart, This dot show accumulation or distribution price, Green / Red line shows market strength. Signal with 1-3-5-10-15-30-60-D shows active order position over time frame and 1 with Price Value like show area of momentum or volatility . Signal on higher the time frame , more strong momentum
Time frame ==> Use proper Signal with swing trend on 1 minute, 3 minute 5 minute, 15 minute time frame
What to Identify ==> Overall Trend for the intraday and swing Period
How to Use ==>
See how and order buildup is seen and current order position. Also area for volatility and expected movement in price direction
Note: - Use market structure, chart pattern, trend lines and price action parameter for more confirmation.
Entry ==> Let’s wait the proper area of support or resistance ( Area of Value in case of trend pattern use)
Exit ==> SL of swing high/low out of market structure with proper risk management and target with proper Risk/ Reward Ratio
I am unable to understand this tool please give time.