The “Price Break” indicator is a powerful tool for any trader. If the price passes the levels displayed by the indicator, then at 77% or more, the price will continue its movement in this direction.
If the price exceeds the blue line, the chances are high that the price will continue to rise further. Conversely, if the price falls below the red line, it is more likely that it will go down further
In the operation of the indicator, it is necessary to focus only on the last signal, that is, on the blue and red arrows.
The indicator has only one input parameter.
- SPACES: As the value increases, the input signals will be more accurate, but there will be fewer signals. Default value = 3.
The strategy involves placing a pending order at these levels. When new signals (arrows) appear, the pending orders should be updated. Sometimes the indicator signal appears directly on the price, in this case, you should place a market order instead of a pending one.