SPG - Forex Binary Intraday

11 de mar. de 2018

This indicator is for Forex intraday trading and works best for binary 5 minute contracts but will work for Contracts up to 2 hours in length.

Although this indicator is a confirmation for the companion "SPG - FOREX VOLUME INDICATOR" indicator you can act on the strongest indicators

This script is broken up into 3 parts

Confidence Cloud/Background Color

This will indicate the current bull/bear trend and if your entering a position - the strength of the direction of that bar will be reflected by the background color behind that bar.

Green - Bull Trend
Red - Bear Trend
Yellow - Transition/unsure

Small BUY/SELL arrows

note the color of the arrow and the "Buy/Sell" text - Use these arrows to enter a trade is using this as a stand alone indicator

Green/Red Buy/Sell label and Green/Red arrow - Strongest Indication
Green/Red arrow - Strong Indication
Green/Red Buy/Sell label - Weak Indication

Large Arrows

transparent Green/Red Arrow - This indicates the bar is exhibiting strong force in that particular direction - This is mostly confirmation to hold the position not to enter it - use the small arrows and the confidence cloud to make

Green/Red Dots above/Below the bar

This is a classic Parabolic SAR Indicator - When the dots touch the bar it will switch direction. When the dots get close to the bar then prepare for a direction switch.

Green dots underneath - Bull trend
Red dots above - Bear trend

Blue background highlight and blue line
This will group bars by time - anything less than 5 minutes will group the bars in 5 minute intervals and anything less than 2 hours will group in two hour intervals but this is buggy. The line will indicate the open price of that interval.

This script is primarily intended for 5 minute binary trades on Nadex - so look at the char in 5 minute resolution to get an entry signal - then switch to 1 minute resolution to take profit or keep until expiration.

19 de abr. de 2020

Notas de Lançamento

This Script highlights consecutive bars and macd histograms