Range Band & Confirmation
Range Band and Confirmation is a simple combination that can identify good trend setups.
Super Simple Trend Setup
Trading Setup
Long
Confirmation indicator is above the value 2, indicating a positive trend.
Enter Long when: the price touches either the lower red band or find confluence when the price touches the mid line.
Short
Confirmation indicator is below at the value -2, indicating a negative trend.
Enter short when: the price touches either the upper green band or find confluence when the price touches the mid line.
Target
Long
Aim to take profit when the price touches the upper band
or take profit at an resistance level
Short
Aim to take profit when the price touches the lower band
or take profit at an support level
Indicators
Range Band (Expo)
Range Length is set to 5.
Confirmation (Expo)
Input Source: Make sure to use "Range Band Mid Line"
Moreover,
Set the Smoothness to: 5
Set the Magnify Overbought/Oversold to: 2
Disclaimer: This content is not financial advise and is for educational and entertainment purposes only.
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