The Pz Market Sentiment indicator evaluates the market sentiment using raw price action measurements, and it is an amazing trading confirmation. It can be used to:
Find early reversals Confirm short-term trades Detect indecision on the market Take contrarian trades near support and resistance levels Trade inside bars confirmed by overall direction of the market
The overall attitude of market participants towards the instrument is portrated using a colored oscillator. The basic usage is the following: You can buy when the histogram is green You can sell when the histogram is red Contrarians can do the opposite near support and resistance lines
Enhance your trading activity with the best Market Sentiment indicator, just like our customers have already done.
I didn't examine each and every possible set of values for the input parameters. However, I would use the settings shown in the backtest results on Post 1 to test the EA on EURUSD,H1 and on a demo account.
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