A trading indicator that highlights hourly price ranges using visual rectangles, helping traders identify key price levels and potential trading opportunities during specific time periods.
Explore complementary indicator rolesHow it works
The Edufx's Power of Three indicator tracks the high and low prices of specific hourly candles throughout the trading session. During each specified hour, it continuously updates and records the highest and lowest price levels observed.
At the end of the designated hour, the indicator automatically draws color-coded rectangles extending five bars backward from the hour's conclusion. These rectangles visually represent the price range, allowing traders to quickly identify key price levels and potential trading zones.
Why it may be useful
This indicator provides traders with a visual representation of critical price levels, helping them understand market dynamics and potential entry or exit points. By highlighting specific hourly price ranges, traders can quickly identify areas of price compression, expansion, and potential trend reversals.
The color-coded rectangles make it easy to interpret price action, enabling traders to make more informed decisions based on the historical behavior of prices during specific time periods. This visual approach helps traders recognize important market patterns and potential trading opportunities.
When to explore it
The Power of Three indicator is most effective for traders who want to monitor and analyze price action during specific hours of the trading day. It works particularly well for markets with consistent hourly price movements, such as forex, futures, and some stock indices.
Traders can use this indicator to identify potential support and resistance levels, track intraday price ranges, and develop more precise entry and exit strategies. It is especially useful for scalpers and day traders who rely on short-term price movements and need quick visual insights into market behavior.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
