GL MTF ATR TT Trade Indicator
GL MTF ATR TT Trade Indicator - another effective tool for trading, which is adapted by Tankk, a popular trader's forum forexsystemsru.com indicator builder.
Indicator GL MTF ATR TT displays on the price chart zones support и resistanceand using some very interesting logic.
GL MTF ATR TT indicator logic
The foreign exchange market is ruled by market makersThey are the ones who move and form the price. The range of price movement is based on the potential amount of liquidity that the market maker can "put" on the market in a month/week. In order to determine these limits approximately it is enough to see the average price movement for a trading instrument on the history.
For example:
If we see that for 10 months the price has made somewhere around 7 figures a month, then we can say with some certainty that the market maker will not release the price beyond those 7 figures.
If for a pair during a month/week/day there is a strong trend and the trading instrument goes beyond its average move, then the drawback liquidity can be the reason for a sharp return of the currency pair to the trading range, as liquidity may be exhausted at this time interval.
GL MTF ATR TT indicator signals
The classic indicator signal is an exit from the monthly/weekly/daily zone with an expected return to it during the specified trading period, especially if the price went out of the limits in the middle of the month/week/day. But the earlier, the stronger the signal.
- we see a way out of the zone;
- looking for a pattern or a signal from your trading system to return to the zone;
- In any case, do not work for further movement from the zone.
The indicator GL MTF ATR TT draws zones as a range. The average stroke is +10%.
The original indicator is used to build monthly zones. В trading indicator GL MTF ATR TT the range of zone usage is expanded.
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