The Repulse indicator measures and reflects the bullish or bearish pressure, connected with each candle, in the form of a curve.
The indicator has one parameter: bounce period. All 4 candle prices are used for the calculation, that is why the price type for the indicator calculation cannot be changed. The recommended way of usage is simple:
- Crossing the zero line up is interpreted as a buy signal;
- Crossing the zero line down is interpreted as a sell signal.
The indicator view in the chart.
The indicator has the following parameters:
Period - setting of the LinearReg indicator period.
Panel - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Colour - colour setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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