Support/Resistance Level To Level 1
This "on chart" indicator is used purely as a visual sentiment to directional momentum of the pair you are looking at.
it is split into two parts, both of which i will explain below.
1, The SMA (Green and Red) this is used to find the directional momentum
2, the Level, is used to decide if the market is in a bullish or bearish move, hence determining whether or not to go long or short.
-only go long when price above Level, and short, below.
i have found it very good at calling out bad trades, when the direction changes quickly.
same as all my other indicators this is fully adjustable in the settings.
i find, with the standard settings, it works best on the 5 munites timeframe as shown, but again, can be used on any time frame.
For access, send me a DM on TradingView
it is split into two parts, both of which i will explain below.
1, The SMA (Green and Red) this is used to find the directional momentum
2, the Level, is used to decide if the market is in a bullish or bearish move, hence determining whether or not to go long or short.
-only go long when price above Level, and short, below.
i have found it very good at calling out bad trades, when the direction changes quickly.
same as all my other indicators this is fully adjustable in the settings.
i find, with the standard settings, it works best on the 5 munites timeframe as shown, but again, can be used on any time frame.
For access, send me a DM on TradingView