DCT calculates all necessary - Direction, possible Correction Levels and Targets. This is a result of years of trading and observing market behavior, how other indicators work - understanding misses - and attempts to improve algorithms. Indicator was created as the basis for the logic for the robot - but something came out that is difficult to describe in words. Take a closer look. This indicator has become the main tool for me and those who tried it.
Source code is not public. You can download the indicator only from the author’s website www.fxcoder.store There is no other way to save copyrights.
P.S. my name is Alex, I'm not a big trader or programmer, but only a very diligent person and try to do good worthwhile things to at least slightly improve my very modest life. Need some support - so I post my work at least for a nominal price, please be understanding.
*** I will not write buy/sell instructions - I'll write about buy... sell will be the same... but vice versa. I hope this is understandable and does not require additional explanation.
by DCT - you should prefer buy Above daily level. Better when it is Green but not Violet - Green means daily candle acceleration. This level will also remains Green While there will be some weak opposite daily candles Not going beyond the ascending daily channel. This level is enough to successfully take large several-day movements but I prefer intraday trading - therefore, the indicator has not one but three levels.
Four-hour and one-hour ones have the same logic of analysis of candle power and channel direction - plus, for clarity, they are shaded to create a zone. This zone - this is the place for entries. You should wait while price dives into green colored zone, maybe it will even goes through it and change color to red - but so far it is Above the daily level - we cannot know whether this is a correction - or this is a trend reverse. So you should be OUT of the market. waiting. and buy only when we have the green color zone above green daily level again - this zone will be new level of support for further upward movement.
Also - it is important not to be greedy and not wait for huge gifts from the market, but to TAKE profit upon reaching every of the volatility levels, or leave part of position in the breakeven in case of movement continuation. Market is simple - it makes big moves based on economics e t c in rare cases, but intraday moves - based on bubble of huge cash thrown into it - this bubble flies up - you should catch it while it is flying, realizing - is just a bubble it quickly loses strength and is torn apart by robots and traders. That is why it is Very important to Have Adequate TARGETS and Take it - or cash (including yours) will be taken by someone else.
DCT draws support levels and direction in colors well enough. Targets is more complicated but some calculations included. There is no volatility target levels when violet flat, and three levels when there is green trend acceleration.
Short quick Target lines - calculated from H4 volatility,
long Target lines - based on daily volatility.
