Thought to share with you guys the following interesting indicator:
E.B.S Trend Identifier Indicator for ThinkOrSwim. Based on TOS’s TrendQuality Indicator. Provides binary options traders with an easy to see label that says in real time the market conditions.
Developed by: Kim Lawrence (From E.B.S)
How to Use:
- Apply the indicator on your chart (works on both currencies and futures)
- The label generated based on the market analysis using the TOS Indicator called “TrendQuality”.
- The Label will suggest the trader in simple English the possible market conditions: Trending UP, Trending DOWN or Ranging.
- Possible use in case of a certain strategy that demands a certain market condition, so using this indicator you can better identify such market conditions.
- We never advise to trade any indicator on it’s own. Please study the indicator behavior in different market conditions and suit to it your trading style and entry conformations as you would usually utilize during your trading. Don’t relay on an indicator as stand alone entry decision. Use at your own risk only.
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