What Elevates SocLevels Indicator Above the Rest?
In the dynamic landscape of financial trading, the ability to discern pivotal data points can mean the difference between capitalizing on a lucrative opportunity and lamenting a missed one. Enhance your strategic approach with the ‘SocLevels’ indicator—an advanced tool meticulously designed for traders aiming to gain a competitive advantage in their analyses.
This indicator leverages algorithms encompassing Price Action, Divergence, and 7 key levels, tailored precisely for monitoring stocks with a focus on intraday. The majority of successful traders prioritize monitoring significant key levels due to the robust price reactions observed near these levels. These critical points play a pivotal role in aiding traders in their decision-making process, influencing whether to initiate buying (long) or selling (short) positions.
A Comprehensive Glimpse into Daily Levels:
The signals in SocLevel indicator are listed below.
Premarket High, Premarket Low and Open Price
The indicator automatically identifies the premarket high and premarket low for all stocks when viewed in the extended hours time frame. If the price surpasses the premarket high and successfully holds above it during backtes, it signals a favorable entry point for a Long position. At this key level, the indicator will display a signal “L” or confirm volume (indicated by a blue signal below the candlestick). Set stop loss at premarket high for Long position
Conversely, in the event of a breakdown below the premarket low, it is advisable to wait for a backtest. Below the premarket low, the indicator will present a signal “S” or confirm volume (denoted by a red signal above the candlestick). Set stop loss at premarket low for short position.
Period Day High, Period Low and Period day Close
The indicator seamlessly identifies the high and low points within the specified period on the chart. Upon reaching these keylevel, it is advisable to secure profits and closely monitor the signals displayed on the chart. For initiating Long or Short orders, it is essential to establish a distinct backtest point, as elucidated earlier.
Pivot Point and Support/Resistance
Utilizing Pivot Points and Support/Resistance aligns with the approach outlined for Keylevels above. What sets this indicator apart is its unique ability to automatically identify either a reasonable support or resistance, but not both.
Top, Bottom, Long, Short Signal
SocLevel’s signals derive from the Divergence and Price Action algorithms. These algorithms are strategically employed to reinforce signals at critical Keylevels on the SocLevel indicator. Achieving a trading win rate of 75% or higher is facilitated by the indicator, enhancing your overall success in trading. See more at ColorTrend
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