Since I've started posting my most common and easiest strategies, we had some really positive feedback with the newest version of this indicator. It's good when everybody starts winning.
I try to keep everything to the chart, so we don't have to spend time reading annoyingly little words.
Let's explain the strategy and the tools we used.
The indicator we used is a premium one called Spectro M2.
The features we used for this strategy(which are all included in this one indicator): - Specter Clouds (The clouds with the orange warnings that predict future direction and price) - XConf (A custom script that reads more than 20 indicators and tells you when they all agree with each other - the big 3 red arrows) - Adaptative Fibonacci Levels (those horizontal lines that are perfect to set targets for exit/entry points) - Scalper Exhaust Algo (The blue background that tells you when the move strength is exhausted) - Spectro Oscillator (That red/green line that moves close to the price action, very useful for entry/exit points)
Hey RS,
With the oscillator would I be correct in saying the higher it is above price in a bullish move or opposite for bear move, does that indicate as stronger move overall?
spectertrading
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@arcadiazane, Hey Zane.
Quite the opposite, if it's TOO far up, it calls for a correction. An excellent tool to know if it's too far out is Spectro BB Fibo. If too far up/down it's a good top/bottom indicator - Spectral Range Indicator comes from a similar logic if that makes sense.
In a healthy bull trend, it should just hover over the price, too far you get a correction, too close you get a weak trend and possible side market.
With the oscillator would I be correct in saying the higher it is above price in a bullish move or opposite for bear move, does that indicate as stronger move overall?