1 (edited by Kennith 2019-08-27 09:05:00)

Topic: Envelopes indicator

Hi. Can anyone please assist me what the following means in practice? How will it look on a chart?

"The bar opens above lower band after opening below it."

Thank you

2 (edited by ViniQ 2019-08-27 15:29:56)

Re: Envelopes indicator

Hello Kennith
In this context you can read the same action as:

"The current bar OPEN is above the current lower band
AND The previous OPEN is below the previous lower band"

We use "The Bar opens above lower band after opening below it" as the common "crossover" used in trading analysis to explain when indicator cross up or down another technical indicator.

**Alert this is not an recommended investment strategy, its purpose is only learning.**

# Create a boilerplate strategy with the indicator
https://i.imgur.com/90Qa6yT.png
1- Select the market;
2- Strategy;
3- Entry indicator, in this case Envelopes with the rule.
4- Exit indicator: "Do not exit".
5- Click on the chart to enter it.

# Explore the chart
https://i.imgur.com/y9f8oD3.png

#Look at the source of the strategy
https://i.imgur.com/5CCIGNe.png

Cheers

Vinicius Pereira, Portuguese Support. Olá eu falo português! Se precisar de ajuda entre em contato segunda à sexta: 09:00-18:00 (-3 GMT); via direct MP, e-mail ou acesse (Pt) Grupo Telegram;