Price Action

v10.3
Price Action
This indicator follows Trend Action, it is an improved version although the other one is still recent.
The changes made are the method of calculation, which is intended to be simpler and more relevant.
ITF provided :
– “Price Action” applied in secondary.
– “Bubbles” for the simplified Price Action also in secondary
– “Candlestick Action” applied on the graph, it translates the impulses given by the Price Action indicator.
The Price Action indicator is composed of several candlesticks, the dark candlesticks represent the amplitude of the body of the candle, the light candlestick translates the amplitude of the wicks by giving their sense of dominance.
An average of the last 5 and 15 periods and apply to the body of the candles bullish then bearish, the same method and then calculate on the wicks of the candles to give two lines of force, either bullish or bearish depending on the configuration of the candles.
The construction of these averages gives the Bubble, which gives the direction and amplitude of the movement over a standard deviation of 1
The Bubble gives another information, when the candlestick becomes darker, it translates an impulse of the candle in court, which can be carefully considered as a point of entry, this information is also given by the visible line of strength in red and green dots, red translates a weakness, green a strength.
For easier reading, you can apply the Candlestick Action indicator on the price to see the impulses directly.
It is obvious that an indicator in no way cancels the possibility of losing, therefore, to be used with a warning, an indicator is used with a strategy, this indicator gives you information, it is up to you to develop a plan.
Yours sincerely,

IV

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