Black Horse indicator

The Black Horse Indicator is a Forex trading tool designed to pinpoint divergences between price action and the Volume Weighted Average Price (VWAP) indicator. It employs sophisticated filters to remove potential false divergences, only signaling high-quality, accurate alerts. The tool distinguishes bearish divergences with red dots displayed above the candle, whereas bullish divergences are represented by green dots located below the candle.

Key Features of Black Horse Indicator

One of the main features of the Black Horse Indicator is the primary divergence filter, which is centered around the Average True Range (ATR) and the price movement in preceding candles within a lookback period. The tool identifies divergences when there is a significant sharpness in the price movement over the lookback period, exceeding the ATR multiplier multiplied by the ATR itself.

Optimal Settings for Different Time Frames

Given the calculation characteristics of the Black Horse Indicator, it is recommended to set lower values for the ATR multiplier and lookback period when trading on higher time frames. As price movements are usually more smoothed out on higher time frames, such as the 15-minute chart, sharp price fluctuations are less frequent and typically contained within fewer candles compared to lower time frames. This is also applicable for stocks with lower volatility, like HSBC or BAC, which should use lower ATR multipliers and shorter lookback periods.

Customizable Visual Settings

The Black Horse Indicator also offers a “Visual Settings” section, where users can customize the color of the VWAP line, alternate VWAP colors for better visualization, adjust the size of the divergence signals, and choose to display or hide the VWAP line.

Independent Testing and Updates

For those interested in the Black Horse Indicator’s performance and reliability, independent testing of this product is available on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product, ensuring they stay informed on its efficiency and accuracy in the volatile Forex market.

FAQ Section

What is the Black Horse Indicator?

The Black Horse Indicator is a Forex trading tool designed to identify divergences between price action and the VWAP indicator. It uses filters to sift through potential false divergences, providing accurate alerts for trading.

How does the Black Horse Indicator work?

The tool identifies divergences by comparing the sharpness of the price movement over a lookback period against the ATR multiplier multiplied by the ATR. It also provides visual cues for bullish and bearish divergences.

Can I customize the Black Horse Indicator?

Yes, the Black Horse Indicator allows users to customize the color of the VWAP line, adjust the size of the divergence signals, and choose to display or hide the VWAP line.

We invite all users of the Black Horse Indicator to share their experiences using this Forex trading tool. This review is independent and written in the third person, emphasizing that it is an objective evaluation of the product’s features and capabilities.