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    Thread: Indicator based on price action

    1. #11
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      Price action is a very famous term in the forex business in recent times and this is due to the fact that many people now prefer to trade the market using simple technique. There are indicators designed to assist traders who trade using price action but be very careful because a lot of them are sold only and normally indicators that you must buy is not that good (if you don't know what you are looking for).

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    3. #12
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      Quote Originally Posted by Beautiful Quynh View Post
      Price action is a very famous term in the forex business in recent times and this is due to the fact that many people now prefer to trade the market using simple technique. There are indicators designed to assist traders who trade using price action but be very careful because a lot of them are sold only and normally indicators that you must buy is not that good (if you don't know what you are looking for).
      yes, price action is very known in this business and it is so reliable for trading this market, the price action is a wide field traders should learn what is suitable for their trading style, there are many strategies out there which are based on price action and we should select what is most profitable for trading.

    4. #13
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      This indicator is a great tool for almost any traders. Weekly open and close are usually respected as support / resistance areas. You could even simply make a trade based off them and you will be sure to get some profits most of the time.

    5. #14
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      Indicators based on price action, I actually think most of the indicators posted here are external indicators which I am not I am not in support of. Actually there are some Pretty good external indicators that are very good, but many of them are not free, we will have to pay for it.

    6. #15
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      Quote Originally Posted by tahiri View Post
      it's rarely to see indicators based on price action, this one I bring you today is one of the best tool I know in forex, it can help traders to trade based on open price, it's very simple for who trade with support and resistances levels, the price ususally react to the open price line.

      what a trader need is the open price and certain target to make profit, that's the objective of this indicator. the screenshot below can show you how the price react to its lines, you just need to be smart and enjoy from it.

      happy trading

      Attachment 67152
      Weekly data is reliable because many big traders use the data from weekly time frame for their trades off H4 or D1.
      This weekly open must be combined with other things in trading such as reading the price action on those levels.
      Because weekly data alone is not sufficient to get maximum profit.


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    7. The following 2 users say Thank You to PhAnToMtRaDeR79 for this useful post.

      Beautiful Quynh (01-17-2018), PongsakornFX (01-17-2018)

    8. #16
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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      Weekly data is reliable because many big traders use the data from weekly time frame for their trades off H4 or D1.
      This weekly open must be combined with other things in trading such as reading the price action on those levels.
      Because weekly data alone is not sufficient to get maximum profit.
      I guess we can include this indicator in multi time frame strategy, first we search the market trend in higher time frame as weekly and use the indicator in 4 hour chart for trade, it can be used as supports and resistances, the price will reat surely at these levels.

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    10. #17
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      thank you for this indicator. it is interesting to trade weekly open because i notice it can sometime be very good and solid support or resistance. i check many pairs chart and find similar setup and with this indicator it will be a bit easier to spot them sooner.

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