“Front running” is significantly a method of high – frequency trading, in which an purchase is placed before somebody else’s large order in the cost glass. This raises the odds of triggering a small take profit and nearly eliminates the stop loss concealed behind a large order. This method is more profitable than others and is often considered illegal if it’s used by an agent (broker) to create a profit actually at the expense of the client.

Unfortunately, there is no price glass in Forex. however, large orders affect the price in a similar way: when a significant volume is traded at a specific price, quotes can touch and move away from the same level several times. This can be noticeable on small timeframes such as M1.

This indicator analyzes the configurations of several consecutive candlesticks and displays price levels where OHLC values, especially high and low, are concentrated in an unusual way.

Thus, the name of the indicator – frontrunner – has a slightly different meaning from the standard “front running”. The indicator shows the consolidated price fronts formed by sideways steps.

Level-based Trading Strategies

• rebound;
• breakthrough;

depending on the number of times the price has already tested the level.

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• Limit – depth of history to process, 0 – entire history;
• Period – number of consecutive bars for counting bounces;
• Threshold – the minimum amount of weights per Period required to detect the level;
• weightoc – weight of the open/close price on any bar per Period; recommended – 0 or 1;
• weighthl – weight of the high/low price on any bar per Period; recommended – 1 or 2;
• Deviation – the number of points up and down allowed in the price discrepancy, at which the bar remains in the calculation of a specific level; 0 means the exact match of the prices of OHLC bars for the Period; 0 – 10 is recommended;
• Method – 1 of 2 calculation methods: split – bounces from the top and bottom are counted separately; combined – all bounces are summed regardless of direction.

When the split method is used, 2 buffers are output: blue for rebound up (buy) and red for rebound down (sell). The combined method outputs 3 buffers with different intensity levels (1, 2, 3 in descending order).

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