Nico.Muselle

GBPUSD - make it or break it - BBP_NM_V02 rules of engagement

FX:GBPUSD   British Pound/U.S. Dollar
1369 14 18
In this chart I would like to show that one indicator only is not enough to make a decision on what a pair is about to do. However, if you see the red line, and the break below 0 of the BBP_NM indicator, you see that you would have made a nice profit if you would have taken that short. Same thing for the blue line, nice profit to the long side which currently is still valid.

Now we have reached a resistance level and the question is whether it will hold or not, that is to be seen. A break and close below the trendline could mean a retracement to the downside. A break above the resistance zone would mean there is more to the upside.

Whatever the market is going to do, feel free to use the new and improved BBP_NM_V02 indicator to help you making your decisions :) The link to the script is posted below.



May the pips be with you !
Oh yes, plus crossing the zero lag EMA...
+1 Reply
That is the one I use it with ... among some other indicators ... and the most important : support and resistance :)
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Is this a new strategy to use with the indicator? I thought the trigger was the change in color not crossing the zero line(?) Can you please explain further or give more examples?
+1 Reply
It's not a strategy, it's just an indicator. Building a strategy around it I leave it up to you because it all depends on what kind of trader you are, what is your risk profile etc etc.
Thanks for using it ! :)
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Nice indicator Nico. Can it be used other than FX, ie DAX, SP, etc...?
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Basically it can be used on all instruments/symbols ... currencies, stocks, indices .... enjoy ! :)
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thanks! will try it
+1 Reply
Nico.Muselle MOD riccardo.pradella
Cheers, let me know how it goes :)
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riccardo.pradella Nico.Muselle
which is the best time frame to let it works?
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Nico.Muselle MOD riccardo.pradella
The time frame does not matter that much, it seems to work fine on all time frames. However, the shorter the time frame the more you are going to have 0-line crosses.
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