It’s one of the most popular indicators for finding the trend exhaustion, the main use case of this indicator is to find the exhaustion of current trend and get a high probability quick counter trend entry but some traders use it for trading reversals by waiting for completion of countdown bars and then trade the reversal.
The idea behind this indicator is to count the trend bars up to ninth bar and after close of ninth sequential trend bar we will expect an exhaustion period for current trend and this exhaustion can be a huge pullback or just a short consolidation period, the ninth bar can be an early exit signal if you are riding the trend or an entry signal if you are a counter-trend trader or a mean reversion trader.
- Recognizing the “Perfect buy and sell signals”
- Counting the countdown bars after completion of the main setup
- Changing the maximum sequential bars number from 9
- Changing the maximum countdown bars number from 13
- Popup, sound and email alert for specific sequential or countdown bars number
- Setting the distance of numbers from bars based on pips