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It's certainly an oscillator (I invented the wheel :LOL:), so we could utilize an Osma oscillator to have the same thing in order to catch divergences, try it and you will see so many divergengences.
Bearish Candlestick Reversal Patterns -
Let Me Illustrate My Point
Below is a chart of LFUS that was in a downtrend during February to the beginning of March 2009. During this downtrend three Bullish Harami candlestick reversal patterns formed but only one would have made a profitable trade.
Am I talking about a bunch of indicators? No, many trading systems today have evolved into the use of complicated indicators and all but ignore price action altogether. Candlestick Trading for Maximum Profits teaches you to study price action.
JAPANESE CANDLESTICKS
In the 1600s, the Japanese developed a method of technical analysis to analyze the price of rice contracts. This
technique is called candlestick charting. Steven Nison is credited with popularizing candlesticks charting and has
become recognized as leading expert on their...
here is support and resistance indicator it draws te major and minor support and resistance of the price I love it helped me a lot because sometimes it is confusing to draw this zones
thanks for sharing
For those who dont know supply and demand these are strong turning points inthe market and where the market turned those zones are marked as supply and demand