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Red&Green Lines indicator is another one of the oscillating trading indicators, which unlike many oscillators does not have fixed maximum and minimum limits.
Despite the fact that this indicator does not have the mentioned boundaries, it is able to indicate to traders, all by itself and automatically, in the form of a double colour, whether supply or demand is currently strongly prevailing in the market, or whether both sides are in relative balance.
- The supply/demand overhang indicator
- User difficulty: Advanced
- Usability: Forex, Commodities
- MetaTrader 4 Compatibility.
- Free indicator updates
Trading with the indicator
Despite the fact that today's indicator may appear to be highly intuitive, there is always the fact that some of its signals (red lines=sell signals and green lines=buy signals), as quickly as they occurred, also quickly fade away.
The chart below shows two sessions in which it was possible to enter a trading position based on the indicator. It is also possible to see the gap between these sessions, when the indicator correctly detected a possible correction. Due to the fact that this indicator can predict "equilibrium=location without color signaling", it can often help traders achieve much better trading results in the long run.
Download Red&Green Lines from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
