HOW TO TRADE FOREX WITH DEMARKS PROJECTED RANGE TECHNICAL INDICATOR - forex trading companies in kuwait

HOW TO TRADE FOREX WITH DEMARKS PROJECTED RANGE TECHNICAL INDICATOR ~ forex trading companies in kuwait

Hello Traders, today I am going to introduce you with a new forex technical indicator named Demarks Projected Range developed by Tom DeMark. The indicator is very effective for scalping. In the image bellow, you can see the formation of the indicator. The interpretation of this indicator is explained along this post.

Source: cmsfx.com

The indicator illustrates the range with high and low marked with dots.

If the next candle opens within the projected range, the price is supposed to stay within the projected range for this period.

If the next candle opens above the projected range, the price is supposed to remain uptrend in the period.

If the next candle opens below the projected range, the price is supposed to remain down trend in the period.

Honestly speaking, this indicator is not a good indicator for professional traders. I personally do not use this indicator because I am not a short term trader.

The indicator can be effectively used for scalping on 5m, 30m, and hourly charts.

If you have any suggestions, questions or complements, you can drop a comment in the comment section below.

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