• Understand Nexgen's Indicators
Understand The Basics Of Nexgen's Indicators.
Last updated
Understand The Basics Of Nexgen's Indicators.
Last updated
The T3 Fibs ProTrader Automated Fibonacci Software incorporates a range of crucial indicators, each serving a distinct purpose within the trading framework. This documentation will provide you with a complete understanding of these indicators by breaking them down individually and building upon each other, unlocking our software's full potential and helping you make informed trading decisions.
T3 Trigger Lines: These are crucial in defining the market's trend and momentum. They provide valuable insights to traders by indicating whether a Fibonacci support or resistance level is likely to hold or break. They will also be responsible for defining the trend direction depicted by the background color of the chart as red or green.
T3 Fibs ProTrader Automated Fibonacci Software: An advanced tool that utilizes Fibonacci analysis to establish crucial support and resistance levels within the market automatically. Fibonacci ratios and levels create a roadmap for traders, guiding them in their trade entries and exits. Each trade executed is either directed towards a Fibonacci area or initiated from a Fibonacci area after it successfully holds as support or resistance. Fibonacci support will appear as a BLUE horizontal line across your chart. Fibonacci resistance will appear as a RED horizontal line across your chart.
T3 Market Flow and Volume Analysis: An indicator that provides valuable insights into the dynamics between buyers and sellers at each price level. It visually represents this information through green dots to indicate a predominance of buyers and magenta dots to indicate a predominance of sellers. By observing these plotted dots, traders can better understand the market sentiment and potential shifts in supply and demand in high-volume areas. To learn more, please refer to the T3 Market Flow analysis section of the trading guide.
T3 Yellow and Magenta Dots "1:1's": Are Fibonacci-based alternates. Yellow and Magenta dots will plot horizontally, where swing-size similarities are present. They will be treated as support or resistance levels.
T3 Divergence Lines: Represented by cyan or magenta horizontal lines with a negative number at a pivot high or low (ex. -34%) is a pivotal tool for predicting a potential reversal or weakening of the current trend.
Please note: the Negative Numbers are random and hold no weight, whether high or low. If a negative number is present, then divergence = True.
T3 Midband Line: This is a 55-period EMA indicator used as a trend continuation level it usually runs through the middle of your chart as a single color-changing line that will display as green if it indicates bullish momentum up or magenta if it indicates bearish momentum down.
