Sniper Stochastics indicator by SpreadEagle71 on USOIL
I have had a little bit of success with the indicator Sniper Stochastics configured with Fibonacci numbers to show price reversals on the oscillator. The two lines in Sniper Stochastics consolidate and form one line above 80 and below 20, it represents a clue. The clue is that a price reversal is about to occur.
Once the price reversal occurs, when the two lines separate it represents a trend. The trend may be up or down. Follow the trend up or down until the two lines consolidate again and it will be time to exit the trade.
It's certainly a great indicator that helps you trade the USOIL CFD.
This analysis has been done on the 15 minute chart.
Cheers
Once the price reversal occurs, when the two lines separate it represents a trend. The trend may be up or down. Follow the trend up or down until the two lines consolidate again and it will be time to exit the trade.
It's certainly a great indicator that helps you trade the USOIL CFD.
This analysis has been done on the 15 minute chart.
Cheers
Comment:
I have played with the 5 minute chart and posted it as an image below. You can see that I have added Sniper Stochastics by SpreadEagle71 to the chart twice. The first indicator has normal Plot's and the second indicator has been modified to have histograms represent the Plot's.
It's still USOIL CFD that I am referring to in the chart.
Also I've changed the FIBONACCI numbers. You can see in the image that the first indicator uses FIBONACCI 987 and 1597. The second indicator uses FIBONACCI 610 and 987.
It's still USOIL CFD that I am referring to in the chart.
Also I've changed the FIBONACCI numbers. You can see in the image that the first indicator uses FIBONACCI 987 and 1597. The second indicator uses FIBONACCI 610 and 987.
Comment:
Referring to the latest update ABOVE. NOTE that you can clearly see some form of consolidation around 24th of March and the 30th of March.
Please refer to picture below: