If you’re looking for a functional forex indicator that will help you detect potentially interesting trading opportunities and thus improve your chances for success, your search is over! Allow us to introduce the Purple Bands indicator.
The Purple Bands indicator is a nocturnal creature that draws price levels every night at midnight for the following 24 hours. Developing the indicator, we paid attention to the generally known weaknesses of competitive indicators and tried to avoid them. As a result, the Purple Bands Indicator is unlike its competitors. It does not redraw any already drawn price levels.
The drawn price levels enable traders to detect overbought or oversold situations on the market and related subsequent decreases or increases. The accuracy of these predictions is as high as 80%.