As described in the chart above, successfully holding above its and indicates a , while failing its and indicates a .
Another way of using is by using bull/bear ranges. generally travels within 10 - 60 in a bear trend, and within 40 - 90 in a bull trend. You can change the bear trend resistance (around 60 depending on the asset and time frame) and bull trend support (around 40 depending on the asset and time frame) in settings. Below is an example
These confirmations are also utilized in our automated scripts. For more information, go to https://www.phi-deltalytics.com/.
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They are more alined with the following idea.