Hope you're all doing well 😘
Today I feel gracious and decided to give to the community. And giving not only an indicator but also a trading method
This trading method shows how a convergence based on moving averages is tremendous
Multicolour indicator that indicates market phases.
It plots on the price chart, thanks to different color zones between the bands, a breakdown of the different phases that the price operates during a trend.
The different zones are identified as follows:
- red color zone: trend is , price is below the 200 periods moving average
- orange color zone: price operate a technical rebound below the 200 periods moving average
- yellow color zone: (phase 1 which indicate a new cycle)
- light green zone: (phase 2 which indicate a new cycle)
- dark green zone: trend is , price is above the 200 periods moving average
- grey color zone: calm phase of price
- dark blue color zone: price is consolidating in either or
- light blue zones: price will revert to a new opposite trend (either long or short new trend)
By identifying clearly the different market phases with the multicolor , the market entries by either a the beginning of a new trend or just after a rebound or a consolidating phase is easier to spot on.
Trade well and trade safe
Discord channel: https://discord.gg/K6NCTX4