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TRO COMPASS INDICATOR - ABOVE/BELOW
![]() Can you imagine looking at 8 charts with 4 moving averages all at once and trying to determine which way the price is moving? This version of the TRO DIGITAL COMPASS allows the trader to know if price is above or below whatever price based indicator they choose. I loaded 4 instances of the indicator on this chart. You can see in an instant if the price is UP or DOWN. Watching it in real time you can see the wave motion as the colors change. This indicator is sent out to people who have made a donation. |
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![]() The TRO DIGITAL COMPASS version of the MA IN COLOR indicator give the trader the ability to scalp with the trend. You can see the trend on 8 different time frames and you can see when the trend changes via the compass arrows. The Price indicator gives the trader a quick reading of what the price is doing: Current Price Is high higher/low then previous high Is low higher/low then previous high Is Price above/below current middle Is Price above/below previous middle Is Price above/below previous close Is Price above/below open The Range indicator gives the trader a quick reading of what the bar is doing: Current Range Periods counted Maximum/Minimum range over the periods counted Average range Number bars above/below current range over the periods counted Number bars above/below average range over the periods counted These TRO indicators have been sent to people who have made donations. |
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WHAT IS TREND?
HOW IS TREND DETERMINED? ![]() Trend is the overall direction of what the price of the instrument you are trading. The trend is either UP or DOWN. Some may want to debate and include FLAT or no trend. Trend is determined by looking at the slope of the line that starts at one point and ends at another. But if you really think about TREND, it is usually determined by looking at current price compared to it's opening price:
If the price is below the daily open, then the trend for the day is down AND it would make sense to go SHORT anytime the price is crossing below the M1, M5, M15, H1, and H4 opens. By trading with the trend, you usually don't get the whipsaws and can exit the trade profitably. The dots on the chart represent the opens on the various time frames and you can see that going short would have been profitable so long as you are not greedy and take your pips when you can. Color code for the TRO OPENS indicator: M1 Yellow M5 Orange M15 Red H1 Bisque H4 Pink D1 White W1 PaleGreen MN1 DodgerBlue This indicator is sent out to people who have made a donation. Last edited by TheRumpledOne; 04-11-2008 at 09:15 PM. |
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How much do you charge for your indicators please? I don't understand donation amount.
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