Welcome to the Provlepsis Indicator
"Provlepsis" is a highly advanced indicator designed for the MQL Market.By analyzing previous bars with the same time of the day, it accurately calculates the potential range of market movement, providing valuable insights into future price fluctuations.
Unlike the traditional ATR indicator, "Provlepsis" takes into account the time factor, resulting in a more powerful tool that adapts to different market conditions.
During nighttime, the indicator predicts a narrower range, while during active trading hours, it anticipates a wider range.
Gain a competitive edge in your trading strategy with the comprehensive range analysis provided by "Provlepsis."
Advanced version: https://www.mql5.com/en/market/product/98802
Simple version (free): https://www.mql5.com/en/market/product/101169
The Simple version can project the next 10 bars starting from the current -open- bar. In the Advanced version you can change the length of the projected range and also you can change the shift. This way you will know if the price is moving inside or outside the physical area, and if there is any trading opportunity.
Here are some examples using the "Provlepsis" Indicator
Why using Provlepsis
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Range-based Trading: The indicator's ability to identify the potential range of market movement can be valuable for range-based trading strategies. Traders can use the indicator to identify key support and resistance levels within the projected range and execute trades accordingly.
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Volatility Analysis: By considering the time factor, "Provlepsis" can provide insights into market volatility. Traders can use the indicator to gauge periods of low or high volatility and adjust their risk management and position sizing accordingly.
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Time-sensitive Strategies: The indicator's focus on specific time periods allows traders to develop strategies tailored to different market sessions. For example, a trader might adjust their trading approach during the night when the indicator suggests a narrower range and adopt a more aggressive approach during active trading hours when a wider range is expected.
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Trend Confirmation: "Provlepsis" can serve as a supplementary tool for trend confirmation. Traders can compare the indicator's projected range with the direction of the trend to validate the strength of the trend and make more informed trading decisions.
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Stop Loss Placement: The indicator's range estimation can assist in determining appropriate stop loss levels. Traders can set their stop loss orders outside the projected range to allow for potential market fluctuations while still maintaining risk management.
Inputs
The "Provlepsis" indicator offers flexibility and customization through its three adjustable inputs, allowing users to tailor the indicator to their specific trading preferences and requirements.
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Shift: The Shift input allows users to define the starting point of the indicator. By specifying a positive number, traders can choose the desired shift from where they want the indicator to begin its calculations. A shift value of 0 corresponds to the current open bar.
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Length: With the Length input, users can determine the length of the indicator. This parameter allows traders to define the number of bars to be considered for the indicator's calculations. By adjusting the length, traders can adapt the indicator to different timeframes and trading strategies.
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Mode: The Mode input offers two distinct options for users to select from. The Split mode assists traders in determining whether the price is moving into the buy or sell area, providing valuable insights for directional trading decisions. On the other hand, the "Two zones" option generates two separate zones of support and resistance, offering traders a deeper understanding of potential market turning points and areas of price consolidation.
By providing these adjustable inputs, the "Provlepsis" indicator empowers traders to customize and fine-tune the indicator to suit their individual trading needs, enhancing the effectiveness and versatility of their trading strategies.
Split example
Two Zones example
The indicator updates on every new bar. That means that in every bar you will have a new graph, starting from the open price of the selected (from the shift value) bar.
Exclusive offer for the 20 first downloads at 35.00$!
It is important to note that while the "Provlepsis" indicator can provide valuable insights into potential price movements, it is not a guaranteed prediction or a foolproof trading strategy. Market conditions can be unpredictable, and price movements can deviate from historical patterns. Traders should exercise caution and conduct thorough analysis in conjunction with using the indicator. It is advisable to test the indicator on historical data or in a demo trading environment before implementing it in live trading. Additionally, past performance is not indicative of future results. Traders should always consider their risk tolerance, financial situation, and trading experience before making any investment decisions.
