4060

Segmented Overbought-Oversold Indicative Script

About:

4060 serves the purpose of identifying overbought and oversold market conditions within any given segment. A market is considered oversold when the indicator falls below the 40 level.

Also, a market is regarded as overbought when the indicator rises above the 60 level.

The significant advantage of this indicator lies in its capability to autonomously draw trendlines. This feature aids in predicting potential market reversals.

During trading, it proves highly beneficial by not only pinpointing targets through drawn trendlines but also by aiding in the prediction of market volatility timing. No specific rules, simply trade on signals.

Specifications:

• Market: Forex, Stocks, Crypto, Options, Indices, and Futures

• Timeframe: Multi timeframe

• Type: Tradebox Indicative Algo

• Trading Style: All (scalping, swing, intraday, and position trading)

• Assets & Charts: All

• Setting Rules: None

How to use:

As a supporting indicator, simply run it on your chart at any time frame, and it will draw the trend lines. It’s a valuable tool for predicting market reversals and directions.

Note:

By understanding the characteristics of different Tradebox scripts and combining them with other technical analysis tools, traders can develop effective trading strategies and make more informed decisions in the financial markets.

As with any trading tool, it’s essential to test your use of 4060 Indicative AI to align with your specific trading objectives and risk tolerance.