B’Meter : Used As A Filter for Trading Break out
It’s not unusual to see “stop” hunting trading activity near S&R (support & resistance) lines or zones in currency market. This notorious activity happens from time to time and is pushed through by big houses or market makers.
In order not to be caught in this trap and fall into victim, traders have their own trade set-up by entering on second thrust. But unfortunately if the first thrust doesn’t fall into manipulation break out, traders will be left behind and see the market makes a fast price movement.
B’Meter is developed to cover this discrepancy. It’s a leading custom indicator used as filter to recognize when to fade and not to fade S&R lines or zones. As a filter for trading break out, B’Meter gauges the strength of price movement while approaching the S&R line.
B’Meter provides strength value of price movement on one price bar before the break out through S&R line. This strength meter reading will tell whether there will be an impending break out or false one. False break out is usually seen as running the “stop” trading activity by big market makers. …………….. <MORE> click here
