U-turn is an indicator that automatically detects support and resistance levels. At the same time it shows them on historical data!
This allows you to analyze the processing of the most significant price levels together with the vehicle or the switchman in the chronology.
This is the main meaning of this indicator. And this is his difference from the other level indicators.
Basic settings:
Buy
In the pictures U-Turn Support and Resistance Strategy in action
This allows you to analyze the processing of the most significant price levels together with the vehicle or the switchman in the chronology.
This is the main meaning of this indicator. And this is his difference from the other level indicators.
Basic settings:
- Bar Start Calculation - the calculated bar determines the number of the bar from which the level calculation starts;
- Power levels: power levels determine their meaning;
- Conditions for the alarm - conditions for the alert (signals on a new spark plug):
- the candle has gone out beyond the level of the body (ie closed behind the level);
- the candle went beyond the level of the body or of the shadow (that is, it touched the level, but it could close it both above and below);
- Show current levels - show or not current levels (those that are visually constructed and to which the price has not yet reached).
- time frame 5 min , 15min, 30min, 60,min
- Currency pairs : Majors and minor. Commodities: Gold and Silver and Indices.
- Stochastic oscillator (5, 5,5).
- U-turn default
Buy
- Price close above orange Support and Resistance and Stochastic oscillator crosses upward.
- Price bounce on acqua support and Resistance and Stochastic crosses upward.
- Price close below acqua Support and Resistance and Stochastic oscillator crosses downward.
- Price bounce on arange support and Resistance and Stochastic crosses downward.
- Stop loss above/below Support and resistance level.
- Profit Target fast o when stochastic croosses in opposite direction in OS/OB area.
In the pictures U-Turn Support and Resistance Strategy in action