- Apr 2017
Market Cipher SR
Trading Symbols and Indicators Guide
Market Cipher SR is intended for Intraday Scalping, and should be used with Regular Candles.
- Heavy emphasis on intraday indicators
- Support and Resistance plots
- Used for isolating key levels
The Range High line indicates the highest price that an asset has achieved in the trading day. The number of days used for the range, can be adjusted in the indicator’s settings.
The Range Low line indicates the lowest price of the asset in the pre-configured trading day. The number of days used for this range, can be adjusted thru the indicator’s settings.
The Range Midline is the center of the highest high and the lowest low of the configured trading range. This area can be useful as a take profit level or a possible area to add to a trade. Normally price action returns to the mean during the trading day and can be effective when used together with the VWAP indicator.
Resistance (Purple Dots)
The Purple Dots indicate an area of resistance. The number of purple dots in a row displays how long this area has been the local high, indicating the strength of the level. The higher the number in a row the higher the chance price will move to this area. Additional instructions on setting up Market Cipher SR, can be found in the Training Video's section.
Support (Yellow Dots)
The Yellow Dots indicate an area of support. The number of yellow dots in a row displays how long this area has been the local low, indicating the strength of the level. The higher the number in a row the higher the chance price will move to this area.
VWAP (Volume Weighted Average Price)
The VWAP indicator - Volume Weighted Average Price gives the average price the asset has traded throughout the trading day, based on both volume and price. This indicator provides both trend and current value of the asset, indicating optimal locations to enter and exit a trade. Successful results have been found by following a very simple rule. long below or on a bullish upward cross of VWAP and short above or on a bearish downward cross.