Way market indicator.
The name of this indicator speaks for itself: Way Market, or in translation, the path of the market implies studying the current situation on the Forex market, identifying all existing trends and sentiments.
This is a rather complex technical analysis tool that combines a lot of possible scripts.
Key features:
- determining the direction of the existing exchange rate trend,
- measuring trend strength indicators,
- warning of the likelihood of a price reversal in the near future,
- separate analysis of the upward and downward trend,
- the ability to determine who is currently dominant in the market, the bulls or the bears.
A comprehensive approach is used in the work, which allows you to completely abandon other technical analysis tools and avoid cluttering the trader's terminal.
The program is based on four indicators and one oscillator, each of which performs its own function and acts both as a source of signals and as a filter for signals received from other scripts.
To start using the Way market indicator, do the following:
1. Download the indicator to your computer and unzip it to your desktop or a separate folder. Then, copy the program file to the "indikators" folder, which is located where your trading terminal is installed.
2. Launch the trading platform, find the installed Market Path indicator, and begin entering the settings.
3. The setting contains the following parameters:
• IdMain - characterizes the main trend and acts as the main line, including complex data.
• IdBull - displays data on an upward trend, when the price rises.
• IdBear - is responsible for displaying data on a downward trend.
• IdArray - smoothing coefficient.
Additionally, you can change the colors and thickness of the displayed lines, as well as move the set level and add new ones for the convenience of trading.
By default, all parameters are set to 12, which is the minimum value.
4. Trading – Before you begin trading, you should first understand the patterns that can be discovered using the Market Path. These primarily concern the oscillator readings and the movement of the green line.
It is by focusing on them that you can build your own trading strategy .
Buy trades are opened when the oscillator bars are above the zero line and the red line of the Way Market indicator is moving steadily upward.
Sales transactions are concluded when conditions opposite to those in the first case arise.
Way Market allows you to develop your own trading strategy by first studying the historical parameters of a given script and identifying all the patterns .
In fact, this is a ready-made analytical complex that allows you to receive clear signals for opening transactions.
