This script utilizes two major concepts of price action.
1.Support and resistance- shown as the colored lines. 2.Dynamic price action movement - shown as the arrows on the chart.
This script is best utilized with the Nadex (north american derivative exchange ) system
Their exchange utilizes a derivative timed statement of true or false. eurusd will be > the 1.0987 at 2pm you will either agree or disagree
You can learn more from their website.
A sell signal
Spotting the red arrow for direction use the closest Higher support and resistance line as the statement price you would look for as a binary on nadex A buy signals
use the closest lower support and resistance line as the statement price you would look for as a binary on nadex
These signals represented as arrows are a perceived notion of direction for a short period of time.
There are three times frames our systems work for
a 1 min time frame is used for a 5 min statement on nadex a 5 min time frame is used for a one hour statement on nadex a 15 in time frame is used for a 2 hour statement on nadex
Nadex uses ten pairs as well for forex, but also has indices , commodities and bitcoin statements as well. This script be used for those as well.
This script has an availability to be used as a forex trading potential with a litlle creative thought. but I wold suggest to just stay with the derivative exchange.