1. 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.
Nexgen's T3 Trigger Lines
Small Triggers: These are 20-period moving averages that respond quickly to price changes, closely following price bars.
Large Triggers: These are 38-period moving averages that provide a broader view of market trends.
Function: The interaction between Small and Large Triggers helps define market trends and momentum. Green Background: The background color changes to green when the smaller trigger lines intersect and cross above the larger trigger lines, while remaining above them.
Red Background: The background color changes to red when the smaller trigger lines intersect and cross below the larger trigger lines, while remaining below them.
Fibonacci Support and Resistance Levels
Blue horizontal lines indicate support levels, while red horizontal lines denote resistance levels.
Function: These levels are automatically plotted by the software and serve as critical areas where the price may reverse or consolidate.
One-to-Ones (1:1s)
Yellow and magenta dots plot horizontally, where there are similar swing sizes.
Function: These Fibonacci-based projections identify potential support or resistance levels based on equal swing measurements.
Divergence Lines
Cyan or magenta horizontal lines with a negative percentage value at pivot highs or lows (e.g., 34%).
Function: Indicate a divergence between price and the T3 MACD BB lines, suggesting potential trend reversals or weakening momentum. ( The Negative #'s are Random )
T3 Midband Line
A 55-period exponential moving average that changes color based on trend direction ( green for bullish momentum, magenta for bearish momentum ).
Function: Acts as a trend continuation level and often serves as dynamic support or resistance.
