INVITE-ONLY SCRIPT
SPG - Forex Binary Intraday
Updated
This indicator is for Forex intraday trading and works best for binary 5 minute contracts but will work for Contracts up to 2 hours in length.
Although this indicator is a confirmation for the companion "SPG - FOREX VOLUME INDICATOR" indicator you can act on the strongest indicators
This script is broken up into 3 parts
Confidence Cloud/Background Color
This will indicate the current bull/bear trend and if your entering a position - the strength of the direction of that bar will be reflected by the background color behind that bar.
Green - Bull Trend
Red - Bear Trend
Yellow - Transition/unsure
Small BUY/SELL arrows
note the color of the arrow and the "Buy/Sell" text - Use these arrows to enter a trade is using this as a stand alone indicator
Green/Red Buy/Sell label and Green/Red arrow - Strongest Indication
Green/Red arrow - Strong Indication
Green/Red Buy/Sell label - Weak Indication
Large Arrows
transparent Green/Red Arrow - This indicates the bar is exhibiting strong force in that particular direction - This is mostly confirmation to hold the position not to enter it - use the small arrows and the confidence cloud to make
Green/Red Dots above/Below the bar
This is a classic Parabolic SAR Indicator - When the dots touch the bar it will switch direction. When the dots get close to the bar then prepare for a direction switch.
Green dots underneath - Bull trend
Red dots above - Bear trend
Blue background highlight and blue line
This will group bars by time - anything less than 5 minutes will group the bars in 5 minute intervals and anything less than 2 hours will group in two hour intervals but this is buggy. The line will indicate the open price of that interval.
This script is primarily intended for 5 minute binary trades on Nadex - so look at the char in 5 minute resolution to get an entry signal - then switch to 1 minute resolution to take profit or keep until expiration.
Although this indicator is a confirmation for the companion "SPG - FOREX VOLUME INDICATOR" indicator you can act on the strongest indicators
This script is broken up into 3 parts
Confidence Cloud/Background Color
This will indicate the current bull/bear trend and if your entering a position - the strength of the direction of that bar will be reflected by the background color behind that bar.
Green - Bull Trend
Red - Bear Trend
Yellow - Transition/unsure
Small BUY/SELL arrows
note the color of the arrow and the "Buy/Sell" text - Use these arrows to enter a trade is using this as a stand alone indicator
Green/Red Buy/Sell label and Green/Red arrow - Strongest Indication
Green/Red arrow - Strong Indication
Green/Red Buy/Sell label - Weak Indication
Large Arrows
transparent Green/Red Arrow - This indicates the bar is exhibiting strong force in that particular direction - This is mostly confirmation to hold the position not to enter it - use the small arrows and the confidence cloud to make
Green/Red Dots above/Below the bar
This is a classic Parabolic SAR Indicator - When the dots touch the bar it will switch direction. When the dots get close to the bar then prepare for a direction switch.
Green dots underneath - Bull trend
Red dots above - Bear trend
Blue background highlight and blue line
This will group bars by time - anything less than 5 minutes will group the bars in 5 minute intervals and anything less than 2 hours will group in two hour intervals but this is buggy. The line will indicate the open price of that interval.
This script is primarily intended for 5 minute binary trades on Nadex - so look at the char in 5 minute resolution to get an entry signal - then switch to 1 minute resolution to take profit or keep until expiration.
Release Notes
This Script highlights consecutive bars and macd histogramsInvite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact mightystrong for more information, or follow the author's instructions below.
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Disclaimer
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