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Dears
I found a very interesting VWAP and swing indicator on my friends trading station,can you let know which company this NT8 indicator belongs to or where can i find the indicator company name from the NT8 workstation.
attaching screenshots as reference.
It is a really marvelous indicator which shows exact market turns.
Please advise,Thank you.
Can you help answer these questions from other members on NexusFi?
It does not show exact market turns as highlighted per the post above but some traders find this indicator helpful.
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- Trade what you see. Invest in what you believe -
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Well, since so many others have come in on this, I may as well, too.
As has been said, the indicator that draws the straight lines between highs and lows is very common. These indicators are often called zigzag or fractals, but they have many names. You can do the same thing with PriceActionSwing, as @JonnyBoy said, and there are others.
The thing to understand is that it connects up the "exact market turns" after they have happened. This kind of indicator relies on some type of price action that happens after the turning points to identify them -- it might be a certain number of bars going up after a low, for instance, or, as with PriceActionSwing, essentially a new high or low on a Donchian Channel. But it always tells you of the turn well after the fact.
These things can be useful because they can help you understand what has happened in the past, but they don't help as much at the time you have to take a trade. They won't tell you, for example, "OK, there's a market turn happening right now on this bar, buy it now." It may tell you, "It turned 5 bars ago, you should have bought then."
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Oops, I just looked at the screenshot again, and the indicator is clearly labeled "PriceActionSwing."
Go download it from the NexusFi downloads section. It is the only indicator in the Downloads that is available to non-Elite members, so that works out well for you.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
