TE Entries
Hey guys,
TE Entries is a momentum based oscilator. It calculates current strenght of the market. It consists of two main lines and two levels:
1) The main plot line (yellow)
2) The smoothing line (blue)
- when The main plot line crosses above The smoothing line, it indicates buy signal
- when The main plot line crosses under The smoothing line, it indicates sell signal
3) The upper and lower levels
- when The main plot line makes top above the upper level, or bottom under the lower level, it indicates that the current trend has ended and you should exit your going position (when this happens it doesn´t necessarily mean that the market is about to reverse, the market can also become trendless)
I recommend to use it with my other indicator TE Exits to get out of trades early, and EMA(100) to identify long term trend.
Enjoy!
TE Entries is a momentum based oscilator. It calculates current strenght of the market. It consists of two main lines and two levels:
1) The main plot line (yellow)
2) The smoothing line (blue)
- when The main plot line crosses above The smoothing line, it indicates buy signal
- when The main plot line crosses under The smoothing line, it indicates sell signal
3) The upper and lower levels
- when The main plot line makes top above the upper level, or bottom under the lower level, it indicates that the current trend has ended and you should exit your going position (when this happens it doesn´t necessarily mean that the market is about to reverse, the market can also become trendless)
I recommend to use it with my other indicator TE Exits to get out of trades early, and EMA(100) to identify long term trend.
Enjoy!