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Coding Forum
Collaborate, receive help, or discuss indicators and other coding-related topics
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Brain Trend 2 Is a short term signals indicator. It is used for intraday trading. Brain Trend 2 identifies the short term trend using Williams percent R indicator and average true range. When a short term trend is confirmed by the indicator, it plots semaphores on the bar to show the trend. Bars with red boxes indicate downtrend and bars with blue boxes indicate uptrend. When a trend is identified, open positions in the direction of the trend. When red boxes appear open short position. When blue boxes appear open long position. It is more effective when coupled with other indicators. A moving average can be used as a trend filter. Set the moving average period to medium term or long term like 50 or 100. BrainTrend2.zip -
#EURUSD #ANALYSIS #Forex #followme #socialtrading The EUR/USD pair fails to hold on to recovery gains as it trades near 1.1070 ahead of the European session on Wednesday. The US #IndustrialProduction and #CapacityUtilization failed to please the #USD buyers as better than forecast prints of the ZEW Economic Sentiment for Germany and the Eurozone gained major attention. Also adding to the pair’s strength was the market’s risk recovery after Saudi Arabian diplomats showed readiness to overcome the recent damages due to drone attack within few weeks. Furthermore, news of the New York #Fed injecting funds through repo market and trade-positive headlines concerning the US, China and Japan also tamed the earlier #risk-off momentum. #Traders have been #cautious since the start of Wednesday with eyes on the US #FederalReserve’s monetary policy meeting announcements up from 18:00 GMT. However, fresh trade/political headlines help extend the latest risk-on. As a result, Asian stocks report gains and the US 10-year Treasury yield remain around 1.80% by the press time. Considering the high probability of the US Federal Reserve’s 0.25% Fed #rate, investors will be less surprised unless the US central bank offers less/more or no rate change. As a result, details of the quarterly economic forecast, press conference by the Fed Chairman #Powell and Fed’s Monetary Policy Statement will be the key to predict near-term market moves. The European Central Bank (#ECB) has recently shown its dovish bias and hence any hawkish statement from the Federal Open Market Committee (#FOMC) could be harmful to the pair’s latest recovery. On the economic calendar, final reading of August month Consumer Price Index (CPI) from the Eurozone and the US housing market numbers could offer intermediate moves ahead of the Fed decision. #TechnicalAnalysis Not only a falling trend-line since late-June, at 1.1090, but the 100-day exponential moving average (EMA) level of 1.1167 also could restrict pair’s near-term upside, which in-turn highlights 1.1100 and recent low surrounding 1.0925 as key supports. -
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