This indicator can be used as 3 or 4 signal types. As an Oversold / Overbought indicator or as a Zero cross indicator. But that’s not what I’m going to present to you. This is an odd way. After indicator is oversold or overbought wait until it comes to the zero level. Once the indicator line stops at zero. Follow the trend in the same direction as the indicator. Look at the chart below to clear your doubts. Don’t trade if the above rules are not true.
Originally this is a Repainting Indicator. But if you choose indicator properties and set Period to 1. This will not repaint. That’s how we are going to use it here. You can use this technique to other indicators too. Set Maximum, Minimum values and lower the period, That will give you non-repaint indicators.
Anders –
Never heard of a indicator like this. But it works
Zvonko –
Nice with lower time frames. Not good for forex though
Louis –
I’m glad to have this in my Meta tradet 4
Salvadore –
It’s a laggy indicator for. Higher time frames. But for 5M it’s not lagging. I’m confused. Because it’s working
Matthew –
Never heard of it. I’m gonna try it