Our proprietary indicator “Smart Mom” gives signals based on a strong confluence of momentum based indicators. When the signal prints the candle colour will changed to reflect the sentiment of either bullish or bearish momentum-
Bullish Momentum- Orange Bearish Momentum- Pink
This can be used in confluence with many other trading methods to create an overall conclusion, such as price action, momentum based strategies or trend analysis.
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The Rainbow Ribbon is, a conglomerate of exponential moving averages of increasing time period plotted on a graph. The ribbon is used to help identify the strength of a trend while also helping spot timely market reversals.
In bullish conditions, the price action will be trading on top of the ribbon with the top EMA’s in the ribbon acting as support. In bearish conditions, the price action will be trading underneath the ribbon with the bottom EMA’s acting as resistance. As shown in the chart above, when the candles penetrate the Rainbow Ribbon and the EMA’s start to converge/cross, market reversal probabilities increase.
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