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Nsawit V2.1
Updated
This indicator is built specifically for FCPO market and it is still in rapid developing phase. It uses Volume as its primary gauge. Basically, it would measure the current and the previous Volume and subsequently weigh the strength of the current Volume. The main objective of this indicator is to spot the swing point. Since the FCPO market is also influenced by the human psychology, this indicator could not determine the top most or bottom most price points accurately; instead it would highlight the potential swing spots.
Dynamically, the indicator would measure the Volume strength and marked it with colored bar - purple for the ‘swing down’ and blue for the ‘swing up’. The indicator would provide the entry at High Strength point which is half of the size of the respective colored bar, if the bar size is big. However, if the bar size is just 1 pip, the entry point would be at the Open or Close position. Stop loss is marked at 1 pip above or below the colored bar.
The developer is currently working on filtering out the false positive points. The indicator is best used in TF3min and MA 10.
Dynamically, the indicator would measure the Volume strength and marked it with colored bar - purple for the ‘swing down’ and blue for the ‘swing up’. The indicator would provide the entry at High Strength point which is half of the size of the respective colored bar, if the bar size is big. However, if the bar size is just 1 pip, the entry point would be at the Open or Close position. Stop loss is marked at 1 pip above or below the colored bar.
The developer is currently working on filtering out the false positive points. The indicator is best used in TF3min and MA 10.
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