In contrast to the Gold Charts I uploaded, you can See on the SLV Chart how the Sell Count Pink Arrows can spell Impending Doom.
A further explanation on how this type of 9,13 count charting works is below the chart.
SLV Mar. 10th 2017 - by Rocket Man
In contrast to the MUX and Gold Charts presented the other day With SLV you can see the Pink Reversal Sell Count Arrows and the Confirmation Dot.
Although one can see the Trend Reversal Green Bars are Begining to Grow in Strength since March 2nd, and you can assume a Blue Conformation Arrow should appear soon.
For those that want a just little insight on how this all works.
Trend Reversal Indicator in this charting software is unique. The Trend Reversal indicator is based on the works 9,13 count indicator, a highly sought after technical analysis tool by the institutional and professional traders since 1990s. However, it has been available exclusively on professional platforms such as Bloomberg, making its use among average retail investors rare.
Trend Reversal Indicator is based on counting price candlesticks or bars in anticipation of trend Reversal or Exhaustion. It has an impressive record of identifying and anticipating turning points across the FX, bond, equity and commodity markets. The Reversal predicts the Reversal pattern, whereas Exhaustion anticipates trend Exhaustion.ReversalA Buy Reversal consists of 9 consecutive bars satisfying the following criteria:
Each bar's close is lower than the close four price bars earlier.
The opposite is for Sell Reversal.
After 9th bar, it is called "Reversal Complete", and Exhaustion can start.
Perfected condition: A buy Reversal is perfected when the low of either price bar 8 or 9 is less than the lows of both price bars 6 and 7.
Buy signals are generated when Buy Reversal is complete, and vice versa for Sell signals. A perfect Reversal is considered a stronger and more reliable signal.
These Charts have the most visually intuitive display of indicator by showing color coded gradient color bars with increasing brightness as Reversal count increases, and an arrow when complete, a dot or small circle to indicate perfected condition. This is a patent pending feature only available at in this type of charting software. Some other tools writes count numbers below price bars or only show signal arrows at the end of a Reversal or Exhaustion. This charting software indicator shows full information in a clear and concise manner.
Figure below shows an example of Buy Reversal complete with perfected condition. Notice the gradually brightening green bars indicate Buy Reversal counts, with the 9th count being an bright up arrow indicating it is complete. Further, a circle above the 9th count indicate it is a perfect Buy Reversal. The red bar below (in the second row) is the Exhaustion start - first bar with count 1. After next 3 bars shows Sell Reversal counts because price action started reversing.
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