Hello everyone, and welcome to today’s very special software update. In this release, we present a new indicator developed by our close friends at TradingWarz. It’s called TradingWarz Golden Indicator. Details after the jump!
The first thing you will notice about this indicator is that it has quite a few different parameters built into it. Don’t worry, though, everything is designed to make identifying specific market conditions easier and faster so you can interact with the market quickly and accurately.
The Golden Pointer is a composite indicator developed by TradingWarz It was added to TrendSpider in collaboration. This indicator has a unique look and feel, as it consists of a number of visual elements:
- Vertically shaded areas indicate when certain conditions are aligned
- Volatility bands to help you see the volatility of price action
- A series of specific candlestick patterns that occur in specific sequences as triggers
The candlestick formations used in this indicator are as follows:
- OB for “Outside Bar”
- IB for “Inside Bar”
- and the fixtures in it, such as OBIB for Outside Bar followed by Inside Bar, etc.
The vertical shading areas represent the price action areas where certain candlestick patterns appear:
- Yellow means OBIB (outer bar followed by inner bar) This is known as the “Holy Grail” area in TradingWarz.
- Blue stands for IBOB (inner bar followed by outer bar). This is known as the “double blue” area.
- Orange means IBIBIB (three consecutive inner bars). This is known as a “Triple IB” area.
Volatility bands are the standard Bollinger Bands.
To learn more about this indicator and how to use it, be sure to watch the video below with TradingWarz: