Auction Levels

Description

The indicator uses market profile theory to show the auction level in user specified time basis. The Auction level is a key level of market that gives a trend bias depends on the location of price.

How is this indicator useful?

• It will allow you to have a reference of the most important trading zones for the specified period, as well as those prior to it.
• It will allow you to trade retracement or breakout patterns, everytime they occur in a given zone.
• Identify potential resistance or support levels. Be mindful that you can use these levels as take profit zones.
• Use the arrows signals to enter to market with a reliable pattern.

Suggested indicators

CEF Auction Levles is designed to work and complement its signals with following indicators:

General Indicators

• Selecting best currencies to trade (CEF Spread Currencies Spread) (MT4)

Trend Indicators

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