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:
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. When small triggers cross above large triggers and both are angled upwards, a strong uptrend is observed. Conversely, when Small Triggers cross below Large Triggers and both are angled downwards, it signals a strong downtrend.
Fibonacci Support and Resistance Levels:
Representation: 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):
Representation: 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:
Representation: 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.
T3 Midband Line:
Representation: 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.
