Specification of the beard catcher

The figure below shows an example of the Hige Catcher signal arrows displayed on the USD/JPY 5-minute chart.


http://livedoor.blogimg.jp/fxmt4indicator/imgs/8/a/8a05d010.gif

We will explain using examples of how to use it with a Buy or High entry.

First, draw a trendline so that it intersects with the wicks of candles that are making higher lows.

In the figure above there are three candles with arrows, but for explanation please consider the first and second candles as references when drawing the trendline.

If you expect the trend of the line to continue, draw the trendline forward to about 5 to 10 candles into the future from the latest candle.

As shown in the third candle, if the open price starts above the trendline, moves down crossing it in real time, a downward crossing arrow will be displayed.

Thereafter, if it rebounds and closes above the trendline, forming a wick, the wick is created.

At this time, an upward filled arrow will be displayed.

Enter High at the open price of the candle following the confirmation of the wick.

In the example above, it works well on both 5-minute and 15-minute trades.

It is also clear that there is value range movement in FX.

Please wait a little longer for the spacetime release.

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