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Market phase indicator
Part of the PPA indicator set
Markets are either trending or consolidating and for each there is a specific scenario that will dictate the type of trading that needs to take place. This indicator is thus typically used on a higher timeframe to form a bias of what ‘phase’ the market is in, and will then make it easy for the user to identify which kind of market we are currently in.
How can the indicator be used?
Identify current market conditions
Identify shifts in market condtions
As a paremter for your manual trading
As input to your automatic trading
The indicator is added separately to the chart window and will with clear line colors and background colors show you which kind of market we are currently in which will subsequently should determine which type of trading you should be doing.
With a BSc in Business Information Technology, Juan traded a 7-year career as a Systems Analyst for full-time trading. Through logic and methodology, Juan's created numerous successful trading systems and indicators. His contributions to ProRealTime are a testament to his expertise, making him a respected figure in the community.
How to read the indicator
Indicator moves between 3 phases
Consolidating (sideways market expected offering mean reversion opportunities)
Breakout (market possibly breaking out of consolidation)
Trending (trending market offering opportunities for trading pullbacks in the trend)
The color of the market phase indicator line confirms the trend direction.
Blue: No trend, expect swings
Red: Expect bearish price action (Short trades only)
Green: Expect bullish price action (Long trades only)
Background color indicates underlying market momentum.
Red: Bearish momentum
Green: Bullish momentum