Hourly Trading System

By
Zeiierman
on
September 20, 2024
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Indicators
Hourly Trading System
Free Indicators

Hourly Trading System

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The Hourly Trading System by Zeiierman enhances intraday trading by highlighting critical price levels and trends on an hourly basis. It plots open prices of hourly and 4-hour candles, visualizes retests, displays average price lines, and overlays higher timeframe candlesticks. This system is particularly useful for traders seeking to capitalize on short-term price movements and volume patterns.

How the Hourly Trading System Works

This indicator plots significant price levels based on hourly and 4-hour candle opens. It identifies retests of these levels, calculates average prices, and marks high and low points for each hour. The tool also incorporates higher timeframe candlesticks to provide a comprehensive view of price action.

Key Components:

  • Hourly and 4-Hour Opens: Visual markers for significant price levels.
  • Retests Identification: Highlights price retests at hourly open levels.
  • Average Price Lines: Displays average prices for better trend analysis.
  • High and Low Labels: Marks hourly high and low points.

Usage of the Hourly Trading System

  • Trend Analysis: Utilize hourly and 4-hour levels to identify potential support and resistance areas, helping traders determine crucial entry and exit points.
  • Retest Strategy: Look for retests at hourly opens to spot potential reversals or trend continuations.
  • Liquidity Sweep Strategy: Identify key levels where liquidity is likely to accumulate, such as previous hour highs and lows, to capture sharp price movements.
  • Equal Highs and Lows Strategy: Use repeated highs or lows to identify strong support or resistance levels and anticipate significant price movements.

Features of the Hourly Trading System

  • Customizable Zone Width: Adjust the width around the 1-Hour Open to widen or narrow the zone.
  • Retest Markers: Enable or disable markers showing price retests.
  • Volume Filter: Highlight retests with significant volume to reduce noise.
  • 1-Hour Average Line: Display the average price over the past hour for trend analysis.
  • Hourly High & Low Labels: Mark the highest and lowest prices within each hour for easy reference.
  • Candlestick Display: Show detailed price action with candlesticks on the chart.
  • Bar Coloring: Color bars based on price direction to quickly gauge trends.
  • Higher Timeframe Candles: Overlay candles from higher timeframes for a broader market perspective.

Conclusion

The Hourly Trading System by Zeiierman is an invaluable tool for intraday traders. By providing a detailed and dynamic view of price levels, trends, and retests, it enhances decision-making and helps capture short-term trading opportunities.

The content on Zeiierman Trading is for informational and entertainment purposes, based on personal experience. It is not a substitute for financial advice. Always consult a qualified professional for financial investment guidance. For more details, please read our disclaimer and policies.

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