Please note that this purchase is a 1-Year license. About License renew.
You might wonder, is there an indicator can show the trend, different levels of support and resistance, and the boundary of price action? The answer is yes, True Center Band (TCB) indicator is capable of doing all of them.
It consists of one center line to measure the center of price range within a given period,
and three channels (bands) represent different support and resistance levels.
True Center Band may look like some other indicators, such as Center of Gravity (COG) and polynomial Regression Channel (PRC). But there is one major difference, TCB never repaints, because it is not calculated by future data. Reliability makes TCB looks good, works better.
True Center Band is specially designed to work on all intraday charts (tick, mins, renko, range, etc.) and daily chart. It also works on all markets (Stocks, Futures, Forex, Options, ETF, etc.)
A good indicator should make complicated things simple.
Therefore, there is only 1 parameter.
Period: the number of bars used to calculate the True Center Band (TCB).
It's very easy to understand, if you want TCB to plot a long-term trend then set a big number such as 50.
If you want to see a short-term trend, then set a small number such as 15.
True Center Band will automatically plot the support and resistance levels based on the total number of bars loaded on chart.
For example, if we load 2 days for a 1-min chart, TCB will plot like the image below.
For the same symbol, same date and time range and timeframe, if we load 10 days TCB will plot like the image below. The bands become much wider than the chart above, that's because the price range in the past 10 days is wider than the past 2 days.
For Minute chart of more than 30mins, in order to see a longer range of support and resistance levels, it's better to load more days in "Chart Settings".
If we load 50 days for a 30-min chart, the support and resistance lines will be calculated by the data from the last 50 days.
If you want to see the recent range of support and resistance levels, then just load the number of days you desire.
Copyright @ 2021 Patternsmart - All rights reserved
This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It's not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.
Futures trading contains substantial risk and is not for every investor.Please read the following risk disclosure before considering the trading of this product: Futures Risk Disclosure. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial.Investor must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. Spreads, Straddles, and other multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options.
patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your self-directed account is solely your responsibility.