HGDA Hany Ghazy Digital Analytics area zone's

23 thg 5

Indicator Name: HGDA Hany Ghazy Digital Analytics area zones

Description:
This indicator plots several key price zones based on the highest high and lowest low over a user-defined lookback period.

The plotted zones represent dynamic support and resistance levels calculated using specific ratios of the price range (High - Low), as follows:

- Zone 1 (Light Red): Represents an upper resistance zone.
- Zone 2 (Medium Green): Represents a medium support zone.
- Zone 3 (Dark Red): Represents a lower resistance zone.
- Zone 4 (Dark Green): Represents a strong support zone.

Additionally, the indicator plots a yellow "Zero" line representing the midpoint price of the selected period, serving as a balance point for price action.

This indicator is ideal for identifying the overall market trend, as prices typically move from the upper resistance zones (light red) downwards to the end of the wave in the lower zones (dark green). This helps traders better understand wave nature and direction.

Usage:
- The colored zones assist in identifying potential reversal or continuation areas.
- These zones can be used to plan entries, exits, and risk management.
- Default lookback period is 20 bars, adjustable in the settings to suit the timeframe.

Notes:
- This indicator relies on historical price data and does not guarantee market predictions.
- It is recommended to combine it with other indicators and analytical tools for improved trading decisions.

---

Developed by Hany Ghazy Digital Analytics (HGDA).

10 thg 6

Phát hành các Ghi chú

HGDA Hany Ghazy Digital Analytics Fibonacci Zones