• Long entry positions • Profit targets • Stop loss targets
Description
The Fast Signal Line is an extremely fast and smooth moving average indicator, designed to eliminate the lag typically associated with traditional moving average indicators. When the price is trending upward the Fast Signal Line is colored light grey then turns orange when price is trending downward. How to Trade It is good practice to assess multiple timeframes to ensure you are mindful of the larger picture. The 15 minute and 4-hour charts are worthy of note. In addition to displaying the current macro trend, the Fast Signal Line can also be used for judging entries and exits from trades. Aggressive traders may choose to trade based on the first touch of the Fast Signal Line whereas conservative traders may wait for the signal line to be broken and established as a line of support or resistance before taking action. Indicator Configuration The Fast Signal Line’s display and colors can be changed by modifying the ‘Fast Signal’ options in the indicator’s style settings;
Volume Line
Description The Volume Line uses short-term historic volume data to determine the balance between demand and supply. When volume is supporting price the Volume Line is colored yellow then turns red when the volume is rejecting the price.
How to Trade
While the Volume Line can indicate support and resistance levels, it is best used to confirm bias when using the Fast Trend Line indicator to enter or exit trades and can also be used by traders for stop-loss or take profit entries. Indicator Configuration The Volume Line’s display and colors can be changed by modifying the ‘Volume’ options in the indicator’s style settings;
Trend Line
Description The Trend Line is a Weighted Moving Average indicator based on a fixed period and is used to identify the current trend of the market. When supporting the price, the Trend Line is colored green then turns red when rejecting the price.
How to Trade
Timeframes of 4H and above are best used to determine the current trends, while shorter timeframes can be used for entering and exiting trades when the trendline is turning in the relevant direction. Indicator Configuration The Trend Line’s display and colors can be changed by modifying the ‘Volume’ options in the indicator’s style settings;
Whales Volume Line
Description The Whales Volume Line uses long-term historic volume data to determine the balance between demand and supply dictated by large/institutional traders in the market. When volume is supporting price the Volume Line is colored yellow then turns red when the volume is rejecting the price.
How to Trade
While the Whale Volume Line can indicate support and resistance levels, it is best used to confirm bias when using the Fast Trend Line indicator to enter or exit trades and can also be used by traders for stop loss or take profit entries. Indicator Configuration The Whales Volume Line’s display and colors can be changed by modifying the ‘Whales Volume’ options in the indicator’s style settings;
Trendline Direction Line
Description The Direction Line is a Weighted Moving Average indicator based on a longer period than the Trend Line and is used to identify the current direction of the market. The Direction Line indicator is colored purple when the market direction is up trending and red when downtrend.
How to Trade
Timeframes of 4H and above are best used to determine current trend, while shorter timeframes can be used for entering and exiting trades when the trendline is turning in the relevant direction. Indicator Configuration The Trendline Direction’s display and colors can be changed by modifying the ‘Trendline Direction’ options in the indicator’s style settings;
Channel Line
Description The Channel Line is a Least Squares Moving Average indicator based on a fixed period and is used as a crossover signal to identify bullish or bearish trends ahead of traditional simple or exponential moving averages. The Channel Line indicator is colored cyan when the market direction is up trending and red when downtrend.
How to Trade
When the Channel Line changes to an uptrend along with a recovery in price, traders can use this as a signal to enter a long position. If the signal changes to a downtrend along with a fall in price, traders can use this to enter a short position. Indicator Configuration The Channel Line’s display and colors can be changed by modifying the ‘Channel’ options in the indicator’s style settings;
Dip & Pop Signals
Description Dip and Pop signals occur when the price is likely to make a counter-trend movement before continuing its direction. In a bullish trend, a Dip signal suggests that price will move down to test support before continuing, whereas a Pop signal suggests that price will move up. In a bearish trend, a Pop signal suggests that price will move up to test resistance before continuing, whereas a Dip signal would suggest price is likely to continue the trend.
How to Trade
Dip and Pop signals should be used as notification for preparation rather than a call to action as the price can move unpredictably during volatility. Indicator Configuration The Dip & Pop’s display and colors can be changed by modifying the ‘PoP’ & ‘DIP’ options in the indicator’s style settings;
Entry & Exit Signals
Description Entry and Exit Signals are indications of when to open and close trades but should be used in conjunction with other indicators to interpret their meaning.
How to Trade
While Entry and Exit signals can be interpreted as simple long and short entries, their meaning does change based on trend circumstance. An Entry signal is typically printed price is starting to see a positive reaction after a drop. When the Fast Signal, Trend, and Trend Direction lines are indicating an upward trend an Entry signal signifies a good place to enter a long or exit a short position. However, if the lines are not suggesting an upward trend then a long signal indicates that any long order should be exited as any new long orders in this scenario are risky as you would be opening a position at resistance. Likewise, when indicator lines are indicating a downward trend and an Exit signal is received this signifies a good place to enter a short or exit a long position. However, if the signal is against the trendlines then this is a riskier short into support. Indicator Configuration The Entry & Exit’s display and colors can be changed by modifying the ‘Entry’ & ‘Exit’ options in the indicator’s style settings;
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