405# Price Action Detector Trading System
Price Action Forex System
Submit by Kron (Written by Kg) 11/10/2012
Price Action Detectors
I have been using this for a long time to read ( I called it)
current Price Action on eachTime Frame combine with my Trading System. I'm not using candle pattern etc to read current Price Action, i don't know maybe i'm too
stupid to remember so many pattern.
But to see what is going on at the present, i think i just need to know the strength of buyers and sellers and compare the current price with the previous price. So, with Multiple Time Frame i could see what is going on with the current price on several periode and use those information to analyze the price movements. So i wrote this indicator for MT4 to help me read this.
You will see three Arrow column on your chart:
BS = Buyer/Seller strength on current candle. Up arrow means Buyers is win and Down arrow means Sellers is win.
OC = Open price and Close Price positions on current candle. Up arrow means current Close price is bigger than current Open price and Down arrow means current Close price smaller than current Open price.
CC = Previous candle Close and current candle Close price positions. Up arrow means current Close price bigger than previous Close price and Down arrow means current Close price smaller than previous Close price.
You can combine this with your current trading system and style.
Hope it's help.
In the pictures Price Action Detector forex system in action.
Share your opinion, can help everyone to understand the forex strategy.