The market turns in one of 2 ways:
- By making a Head and a Shoulder
- In a rising/falling wedge
The 88 Luftballons MT4 indicator can help you find the first condition. (The God Awesome indicator can help you with the second one, that involves plotting terminal waves.)
The SA in the title stands for Sync and A-Sync.
I call a Low/High Synchronized if it is both short and medium term oversold/overbought.
The Sync Lows/Highs have a visual representation of an 8-Ball.
The 8-balls are tough cookies, they are hard to break, and they could all be Heads potentially.
To turn them into actual heads, you need an A-Sync reading following in close behind (11-14 samples are used for the 30 minutes charts).
The A-Sync reading has two visual representations. One is the black arrow that is plotted at the weight (HL2) value of the 30-minute bar. The other is the red/green text starting with “RS” (Right Shoulder), repeating the HL2 reading with numbers.
If you look at the picture above, the first thing you would spot – most likely are the white-out areas. These go from the HL2 value to the recent high/low, and they are 8 periods wide – to make them as visible as possible. They mean to get your attention to the areas where there was a divergence made by buying/selling.
There is one more thing that you can figure easily: where the stops were placed.
Both on the upside and on the downside the stops were within 10 pips distance from the previous high/low. This may be a useful information about the current market players.
As for the lines, the green line shows the limit of the push achieved by the purchase at the right shoulder – with 2 hours time limit given.
The red-orange line of course is the 2-hour achievement of the right shoulder provider bears.
The idea of the colors is that the red line is a potential sell, the green line is a potential buy.
The last image shows how that 2-hour print becomes an active sell further down the road. You can also see that the 8-Ball lines / Sync values can be optionally plotted in a form of a mesh, and the actual numbers are an additional option.
If you are interested in purchasing this or any other of my indicators or an automated trading routine, feel free to contact me: email@example.com
The terminal wave, as Mr. God Awesome can find it…
Full Color Jacket: 88 Luftballons SA + God Awesome V1.1