Market Force
Market force is an indicator that can be used to identify the strenght of market direction the sign of reversal. It is very importance for trader to know the strenght of market movement before entering the market.
Market Force indicator consist of different color that tell us different type of market movement and adding the possible buy and sell signal. Below is the list of color discription.
1. Green - Strong uptrend, posibly go up
2. Dark green - Sign of retracement or reversal on uptrend
3. Red - Strong downtrend, posibly go down
3. Dark red - Sign of retracement or reversal on downtrend
4. Yellow - posible buy or sell signal
The body of Market Force indicator shows how strong the uptrend/downtrend. Thus, it is easy to know the market direction.
There are additional features where Market Force can be see from multiple timeframe in one chart. I made the market force indicator as Market Force line indicator. About 4 Market Force lines for 4 different timeframe that can be enable or disable. This is useful when we can make comparison of Market Force from different timeframe without changing the main chart timeframe. The color code is different from main Market Force indicator. The function of gray color is for undecided market movement.
The peak of Market Force show the sign of market direction. For example, if the peak of Market force is high than the previous, we can say that the prive will go up and vise versa.
Divergence also can happen when the peak pattern is different from market movement. Thus, we can see clearly when the market change direction.
For conclusion, Market Force indicator is not tell everything about Market, but it is very useful to use as supporting indicator which it can be used with other indicators. For me, it is best to use Market Force with Smoke Evolution Trading System (refer my previous script) to analyze market.
Smoke Evolution Trading System
Market Force indicator consist of different color that tell us different type of market movement and adding the possible buy and sell signal. Below is the list of color discription.
1. Green - Strong uptrend, posibly go up
2. Dark green - Sign of retracement or reversal on uptrend
3. Red - Strong downtrend, posibly go down
3. Dark red - Sign of retracement or reversal on downtrend
4. Yellow - posible buy or sell signal
The body of Market Force indicator shows how strong the uptrend/downtrend. Thus, it is easy to know the market direction.
There are additional features where Market Force can be see from multiple timeframe in one chart. I made the market force indicator as Market Force line indicator. About 4 Market Force lines for 4 different timeframe that can be enable or disable. This is useful when we can make comparison of Market Force from different timeframe without changing the main chart timeframe. The color code is different from main Market Force indicator. The function of gray color is for undecided market movement.
The peak of Market Force show the sign of market direction. For example, if the peak of Market force is high than the previous, we can say that the prive will go up and vise versa.
Divergence also can happen when the peak pattern is different from market movement. Thus, we can see clearly when the market change direction.
For conclusion, Market Force indicator is not tell everything about Market, but it is very useful to use as supporting indicator which it can be used with other indicators. For me, it is best to use Market Force with Smoke Evolution Trading System (refer my previous script) to analyze market.
Smoke Evolution Trading System