Indicator Plots Lines on 00,22,50 Price Levels

[anchitkole]

Looks like this indicator combines pivot points with support and resistance.Don't know what will be the outcome of this strategy.So peteonthenet can you tell us for how long you are using this indicator and what are the results of this indicator.

[motiurbd]

It is more like a psychological level identifying indicator... It can be done easily with naked eyes... I dont think any need of this indicator... If you have shared a indicator like auto fibo or auto pivot indicator then it could be more helpful...

[peteonthenet]

Hello,

NO this wont necessarily show you the trend, but yes it can show you reversal points. So just put it on a chart and watch it a day or two and you will get the idea, the simple fact being that every currency value is represented in numbers.

So you can incorporate this indicator in your own trading logic and take advantage of it.

what is the benifit of this indicator????will it shows the trned and reversal??

[peteonthenet]

Yes, these lines can be used in many different ways, like for entry points, stoploss levels, take profit levels, or just for support/resistance levels. All upto trader how he incorporates this in his own trading logics.

I think not too different and the problems between the bar and candlestick charts with lines that may be combined as a pivot point.
..

[mbiut]

I think not too different and the problems between the bar and candlestick charts with lines that may be combined as a pivot point.
..

[peteonthenet]

Hello Tweaker,

This indicator will work on Candlestick and Bar charts as well.

Regards

[peteonthenet]

This indicator is purely plotting lines on prices ending with 00, 25, and 50. Nuthing to do with pivots or anything else.

But its amazing to see how price is moving along this lines. One thing is very sure though with this indicator, Price will always be touching these lines day after day, year after year ;-)

[blackprince4u]

Here is a screnshot how the indicator looks on the chart, and you will see how price is moving around these lines. Sweet isnt it ?

Looks like this indicator combines pivot points with support and resistance.Don't know what will be the outcome of this strategy.So peteonthenet can you tell us for how long you are using this indicator and what are the results of this indicator.

[peteonthenet]

Here is a screnshot how the indicator looks on the chart, and you will see how price is moving around these lines. Sweet isnt it ?

[peteonthenet]

This is my favorite indicator, and its best used with price itself.

Hope this will help you guys in your trading.

SweetSpots.zip

There is parameter for this indicator named "sublevels" which is defaults to 250, this is for 5 digit brokers, please change it to 25 for 4 digit brokers.