Often in trading we exchange system complexity for the three basic notions which are more essential to success: remove emotion, keep trading simple, and always maintain an edge.
That is the goal of the CyclesForecaster indicator. Through our proprietary price action algorithm, this indicator uses basic price action to generate long and short cycle forecasts for traders to easily follow and trade. The settings are self-adjusting to market conditions, thereby removing the emotion we face as traders to change settings and curve-fit various scenarios.
As with our other indicators, we have developed the indicator to provide a simple view of what direction the market is trending. In addition, we have built in custom coloring methods for different bar types in each cycle.
Up Bar in Bull Cycle
Down Bar in Bull Cycle (look to these bars for a low risk Long entry)
Down Bar in Bear Cycle
Up Bar in Bear Cycle (look to these bars for a low risk Short entry)
The user has FULL control of the coloring both the fill and the candle outline of those bars. There is also an option to color the entire background of the chart OR only the subplot.
*Indicator available for both NT7 and NT8
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