Edufx's Power of Three

20 thg 7, 2024

Indicator Overview
Name: Edufx's Power of Three

Purpose:

To highlight the high and low price ranges of specific hourly candles on a chart.
To visualize these ranges using rectangles.
Features
Visibility Toggle:

Users can enable or disable the visibility of the rectangles highlighting the high and low price ranges of the specified candles.
Customizable Rectangle Length:

Users can adjust the length of the rectangles that extend from the specified candle's high and low prices.
Price Range Tracking:

The high and low prices of the specified candles are tracked and stored.
Rectangle Drawing:

Rectangles are drawn from 5 bars before the end of the specified hour, highlighting the high and low price ranges.
How It Works
Price Range Tracking:

During each specified hour, the high and low prices are updated with the highest and lowest prices observed.
Rectangle Drawing:

At the end of each specified hour, the high and low prices are used to draw rectangles extending 5 bars backward from the end of the hour.
Rectangles are color-coded (red, green, and blue) for easy identification.
Usage
This indicator is useful for traders who want to monitor and react to key price levels at specific times of the day.
The visual rectangles help in identifying potential trading opportunities based on price action relative to these key levels.
Example
If the price moves above the high of the specified candle but fails to close above it, a visual rectangle will highlight this price range.
Similarly, if the price moves below the low of the specified candle but fails to close below it, the rectangle will indicate this range.
This indicator provides visual aids to assist traders in making informed decisions based on the behavior of price at specific key levels.

20 thg 7, 2024

Phát hành các Ghi chú

Indicator Overview
Name: Edufx's Power of Three Indicator

Purpose:

To highlight the high and low price ranges of specific hourly candles on a chart.
To visualize these ranges using rectangles.
Features
Visibility Toggle:

Users can enable or disable the visibility of the rectangles highlighting the high and low price ranges of the specified candles.
Customizable Rectangle Length:

The default length of the rectangles is set to 10 bars, but users can adjust this length as needed.
Price Range Tracking:

The high and low prices of the specified candles are tracked and stored.
Rectangle Drawing:

Rectangles are drawn from 5 bars before the end of the specified hour, highlighting the high and low price ranges.
How It Works
Price Range Tracking:

During each specified hour, the high and low prices are updated with the highest and lowest prices observed.
Rectangle Drawing:

At the end of each specified hour, the high and low prices are used to draw rectangles extending 5 bars backward from the end of the hour.
Rectangles are color-coded (red, green, and blue) for easy identification.
Usage
This indicator is useful for traders who want to monitor and react to key price levels at specific times of the day.
The visual rectangles help in identifying potential trading opportunities based on price action relative to these key levels.
Example
If the price moves above the high of the specified candle but fails to close above it, a visual rectangle will highlight this price range.
Similarly, if the price moves below the low of the specified candle but fails to close below it, the rectangle will indicate this range.
This indicator provides visual aids to assist traders in making informed decisions based on the behavior of price at specific key levels.

20 thg 7, 2024

Phát hành các Ghi chú

Indicator Description
This indicator highlights the high and low price ranges of the accumulation candles on the chart. It visualizes these ranges using rectangles that extend backward by 10 bars. The indicator helps traders identify key price levels during these specific hours.

Features:

Toggle visibility of the rectangles.

Customizable rectangle length (default is 10 bars).

Tracks and stores high and low prices during the specified hours.

Draws rectangles from the end of the specified hours extending backward.

Usage:

You can enter a short or long trade after price moves above or below the range and rejects the levels.
A candle close below/above the previous candle's body or 50%, is an extra confirmation that the entry is valid.

20 thg 7, 2024

Phát hành các Ghi chú

Indicator Description
This indicator highlights the high and low price ranges of the 3AM, 6AM, and 9AM candles (EST) on the chart. It visualizes these ranges using rectangles that extend backward by 10 bars. The indicator helps traders identify key price levels during these specific hours.

Features:

• Toggle visibility of the rectangles.
  
• Customizable rectangle length (default is 10 bars).
  
• Tracks and stores high and low prices during the specified hours.
  
• Draws rectangles from the end of the specified hours extending backward.
  

Usage:

• Useful for monitoring key price levels for currency pairs such as EURUSDGBPUSDUSDJPY
• Visual rectangles help identify accumulation ranges.
  
• Traders can enter a short or long trade after the price moves above or below the high or low of the range and rejects the level.
  
• A candle close below/above the previous candle's body or 50% of it confirms that the entry is valid.
  
• Works best on the M15 timeframe and lower.
  

20 thg 7, 2024

Phát hành các Ghi chú

Indicator Description

This indicator highlights the high and low price ranges of the accumulation candles (EST) on the chart.

It visualizes these ranges using rectangles that extend backward by 10 bars. You can reduce the number of bars for higher timeframe or increase for lower timeframe

The indicator helps traders identify key price levels during these specific hours.

Features:

• Toggle visibility of the rectangles.
  
• Customizable rectangle length (default is 9 bars).
  
• Tracks and stores high and low prices during the specified hours.
  
• Draws rectangles from the end of the specified hours extending backward.
  

Usage:

• Useful for monitoring key price levels for currency pairs such as
  
• EURUSD
  
• GBPUSD
  
• USDJPY
  
• Visual rectangles help identify accumulation ranges.
  
• Traders can enter a short or long trade after the price moves above or below the high or low of the range and rejects the level.
  
• A candle close below/above the previous candle's body or 50% of it confirms that the entry is valid.
  
• Works best on the M15 timeframe and lower.