Birdie AbelForx
This script indicates a breakout of the "diagonale Line" to show potential Day trading or Swing entries.
Timeframe : H1 or M30
Pairs : Forex, Index, Crypto
Insight :
The purpose of this indicator is to determine areas of reversal or beginning of trend.
Every day at 11:00 p.m. (Paris Time), the daily horizontal level is determined by a vertical line.
The trader will then have to draw the diagonal from the horizontal level of the day before to the level of the new horizontal level by anticipating it until 11:00 p.m. (Paris time)
Thus we will have a diagonal for the day which will serve as an entry trigger if the price crosses and closes beyond this diagonal. During the day the horizontal level will progress at the same time as the weather until 11:00 p.m. (Paris Time)
If you configure a trade entry, the SL level is determined by the horizontal level of the same day.
For swing trading, the SL can follow the price by placing itself each day (above for a sell / below for a buy) of the daily level so as to act as a daily trailing stop.
As long as the price is above the diagonal and the daily level, we remain in an uptrend.
As long as the price is below the diagonal and the daily level, we remain in a downtrend.
Timeframe : H1 or M30
Pairs : Forex, Index, Crypto
Insight :
The purpose of this indicator is to determine areas of reversal or beginning of trend.
Every day at 11:00 p.m. (Paris Time), the daily horizontal level is determined by a vertical line.
The trader will then have to draw the diagonal from the horizontal level of the day before to the level of the new horizontal level by anticipating it until 11:00 p.m. (Paris time)
Thus we will have a diagonal for the day which will serve as an entry trigger if the price crosses and closes beyond this diagonal. During the day the horizontal level will progress at the same time as the weather until 11:00 p.m. (Paris Time)
If you configure a trade entry, the SL level is determined by the horizontal level of the same day.
For swing trading, the SL can follow the price by placing itself each day (above for a sell / below for a buy) of the daily level so as to act as a daily trailing stop.
As long as the price is above the diagonal and the daily level, we remain in an uptrend.
As long as the price is below the diagonal and the daily level, we remain in a downtrend.
by The professor