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This is an indicator that combines the Rate of Change and Bollinger Bands, with several functions: Identifying trends. Detecting overbought and oversold conditions. Determining potential reversal points. Applicable Chart: M5 The indicator is composed of four lines: the Upper Band, Lower Band, Fast Line, and Slow Line. Usage 1: Identifying Trends When the yellow line is above the red line and the green and blue lines are expanding, it indicates an upward trend. Conversely, if the yellow line is
indicator seems to be a sophisticated tool for trend analysis in financial trading. It utilizes Bollinger Bands with an exponential method and color-coding to indicate the current trend direction—whether it's with the trend (bullish) or against it (bearish), as well as using the intermediate color, blue, to suggest a potential trend reversal. Additionally, the indicator uses a total of six tracks—upper band, upper band EMA, middle band, middle band EMA, lower band, and lower band EMA—to assess