Fiji BB Alert - channel rebound indicator
Another indicator from the Fiji series, which is a rebound system from the channel. According to ForTrader.org experts, Fiji BB Alert indicator is based on the standard Moving Average, and it works like a Bollinger Bandshence the name.
The basis of the Fiji BB Alert indicator, as you can see from the figure, is a channel and is built dynamically, moving behind the price. The signal to open a trade is when the price exits the channel and the next candle closes inside it. The rebound from the lower boundary is indicated by a blue circle and is a prerequisite for a Buy trade, from the upper boundary by a white circle (changed to gray in our case), indicating a sell trade.
According to ForTrader.org experts, Fiji BB Alert indicator is nothing special and repeats ideas that have long been implemented and shown to be effective.
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