Dominance
Scalping 3 Bands Indicative AI
Last updated
Scalping 3 Bands Indicative AI
Last updated
About:
Dominance is an ideal tool for scalpers trading on timeframes of 3 minutes and above. It utilizes mathematical calculations to analyze market conditions, categorizing them as either overbought, neutral, or oversold across various timeframes.
Specifications:
Market: Forex, Stocks, Crypto, Options, Indices, and Futures
Timeframe: 30mn or 1hr for Forex, Stocks, Crypto, 15mn for Index Option Trading
Type: Tradebox Scalper Indicator Algo
Trading Style: All (scalping, swing, intraday, and position trading)
Assets & Charts: All
Setting Rules: None
How to use:
This indicator is categorized as a band-type indicator, comprising three bands: upper, middle, and lower bands. Its primary function is to identify the maximum uptrend and downtrend within the specified market segment.
Scalping Guidelines:
By default, all bands are represented in a single color, which is aqua.
Buy Entry: When both the upper and middle bands turn green, it signals a potential buy entry. You can hold this position until the bands revert to their original aqua color. Place your stop loss either at the buy entry candle or below it.
Sell Entry: When both the lower and middle bands become red, it suggests a sell entry opportunity. Hold your position until the bands return to their initial aqua colors. You can place your stop loss at the top of the candle where you entered the sell position.
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 Dominance Indicative AI to align with your specific trading objectives and risk tolerance.