In this chart I would like to show that one indicator only is not enough to make a decision on what a pair is about to do. However, if you see the red line, and the break below 0 of the BBP_NM indicator, you see that you would have made a nice profit if you would have taken that short. Same thing for the blue line, nice profit to the long side which currently is still valid.
Now we have reached a resistance level and the question is whether it will hold or not, that is to be seen. A break and close below the trendline could mean a retracement to the downside. A break above the resistance zone would mean there is more to the upside.
Whatever the market is going to do, feel free to use the new and improved BBP_NM_V02 indicator to help you making your decisions :) The link to the script is posted below.
May the pips be with you !
Comentários
loujill
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Oh yes, plus crossing the zero lag EMA...
Nico.Muselle
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That is the one I use it with ... among some other indicators ... and the most important : support and resistance :)
loujill
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Is this a new strategy to use with the indicator? I thought the trigger was the change in color not crossing the zero line(?) Can you please explain further or give more examples?
Nico.Muselle
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It's not a strategy, it's just an indicator. Building a strategy around it I leave it up to you because it all depends on what kind of trader you are, what is your risk profile etc etc.
Thanks for using it ! :)
riccardo.pradella
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thanks! will try it
Nico.Muselle
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Cheers, let me know how it goes :)
riccardo.pradella
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which is the best time frame to let it works?
Nico.Muselle
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The time frame does not matter that much, it seems to work fine on all time frames. However, the shorter the time frame the more you are going to have 0-line crosses.
riccardo.pradella
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thank you, just one more thing, don't know why i cannot find this indicator, i have added but not finding it. i'am searching for BBP_NM_V2, right?