In Binary Option or High Frequency Forex (HFX), it's very common to see the market make reversals at hours and half hours.
This indicator just simply draw vertical lines at each quarter of the hour.
You should change the color and opacity to fit your chart style.
With this indicator, you're going to know when to positions yourself with more accuracy on trade setups.
- It works best if you take your reversal trade at the top of the hour using your other (overbought/oversold) confirmation using , , DMI, etc.
- It works better if you take your trade at resistance/support zones
- You should pay attention to the direction the market is going before the hour (or half hour) and looking at how the direction changes going into the hour or after it.
Please backtest before taking real trades
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.