Rainbow Force - Multi Timeframe [WYCKOFF ARSENAL]

2019년 11월 8일

🌈 Rainbow Force - Multi Timeframe WYCKOFF ARSENAL

The purpose of the Force is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher.

The Rainbow Force can be used on any available timeframes and assets with volume data.
It is a combination of Force instances of different lengths that are plotted on the same chart.
The confluence zones can hint at a price reversal and help estimate the trend strength.

The Rainbow Force can be combined with other technical analysis tools as a trend-following indicator.
When the trend is strong and the other indicators used to determine entry points send a bullish or a bearish signal, a position can be opened.
When the trend is weak, opening new positions should not be to consider.

The Rainbow Force can also be used on its own. The angles of the Rainbow will hint at the trend strength.
The steeper the curve, the stronger the trend. The flatter the curve, the weaker the trend.
A Buy position can be opened in the beginning of a strong positive trend.
A Sell position can be opened in the beginning of a strong negative trend.

During a strong trend, short-lived retracements can be found, and it is possible to enter a position in the direction of the general trend against the retracement.

The Rainbow mode can be experienced with the Multi RSI indicator as well.

Related tools:
▪ Optimism Pessimism
▪ Force
- 🌈 Rainbow Force ◄
▪ Technometer
- 🌈 Rainbow Technometer
▪ Momentum
- 🌈 Rainbow Momentum
▪ Market Screener