Tutorial on Excessive Impetus and Fibonacci Related Analysis
With Excess Index Indicator, you can access the automatic Fibonacci Ratio Analysis. Combining these two powerful trading systems are the great ways to trade in Forex market. In this article, we will show you how to combine both with step by step.
When there is an unexpectedly long bearish and bullish price movement, the indicator will detect these excessive moments for your trade. This excessive momentum zone is often the true area of accumulation and distribution in the Volume Diffusion Analysis. This means that entry around this excessive impetus area can give you the great advantage that favors your Reward and Risk for your trading, whether they are exchange or reverse trades. The indicator provides such a great opportunity automatically.
In addition, Fibonacci retracement level can give an additional idea of when the price may move in line with our expectation. To call the Fibonacci level automatically, simply click on the circle at the Excessive Impetus Zone. Then it will put the Fibonacci level automatically in your chart. The thing is, the positioning level of Fibonacci may be too short in its breadth. Once you want to project the Fibonacci Retracement level to the far right to see the price action around the retracement level. It is feasible as well.
To do this, double-click the Fibonacci object in your diagram. Then you will see the three anchor points in the retrap object. Drag the right anchor point to the right. You can drag them as much as you want to cover the graphics area according to your interest. Please check the screenshot added to complete this tutorial.
Here is a link to Excessive Index Indicator.
With Excess Index Indicator, you can use our Volumetric Diffusion Scheme Detector. Volume Distribution Master Detector is a great free tool to complete your Volume Distribution Analysis to detect Accumulation and Distribution. Or you can even use them to detect significant support and resistance for your business. Here is the link to the free Volume Dissemination Template Detector.
In addition a Volume Distribution Scheme Indicator is the more advanced version of a Volume Distribution Scheme Detector. If you want to improve your trading performance even more, then we recommend using a Volume Distribution Pattern Indicator. This is not a free indicator, but it is cheap. Here is the link to the Advanced Volume Spread indicator.