Provlepsis Indicator – Analytics & Forecasts – 19 May 2023

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Welcome to the Provepsis Indicator

“Provlepsis” is a very advanced indicator designed for the MQL market.
By analyzing previous bars with the same time of day, it accurately calculates the possible range of market movement, providing valuable insight into future price fluctuations.
Unlike the traditional ATR indicator, “Provlepsis” takes into account the time factor, resulting in a more powerful tool that adapts to different market conditions.
Overnight, the indicator predicts a narrower range, while during active trading hours, it predicts a wider range.

Gain a competitive edge in your business strategy with the comprehensive range analysis provided by “Provlepsis”.

Product link: https://www.mql5.com/en/market/product/98802

Here are some examples using the “Provlepsis” Indicator
Examples

Why use Provelpsis?

  • Range Trading: The indicator’s ability to identify the potential range of market movement can be valuable for range-based trading strategies. Traders can use the indicator to identify key support and resistance levels within the projected range and execute trades accordingly.

  • Volatility Analysis: Considering the time factor, “Provlepsis” can provide information on market volatility. Traders can use the indicator to assess periods of low or high volatility and adjust their risk management and position accordingly.

  • Time-sensitive Strategies: The indicator’s focus on specific time periods allows traders to develop strategies tailored to different market sessions. For example, a trader might adjust his trading approach overnight when the indicator suggests a narrower range and adopt a more aggressive approach during active trading hours when a wider range is expected.

  • Trend Confirmation: “Provlepsis” can serve as a supplementary tool for trend confirmation. Traders can compare the projected range of the indicator with the direction of the trend to validate the strength of the trend and make more informed trading decisions.

  • Stop Loss Placement: The range estimate of the indicator can help determine appropriate stop levels. Traders can set their stop orders outside of the projected range to allow for potential market fluctuations while still maintaining risk management.


Inputs

The “Provlepsis” indicator offers flexibility and customization with its three adjustable inputs, allowing users to tailor the indicator to their specific trading preferences and requirements.

  1. Shift: The Shift input allows users to define the starting point of the indicator. By specifying a positive number, traders can select the desired move from where they want the indicator to start its calculations. A shift value of 0 corresponds to the current open bar.

  2. Length: With the Length input, users can determine the length of the indicator. This parameter allows traders to define the number of bars to consider for the indicator’s calculations. By adjusting the length, traders can adapt the indicator to different time frames and trading strategies.

  3. Mode: The Mode input offers two distinct options for users to choose from. The Split mode helps traders determine whether the price is moving into the buy or sell area, providing valuable insight for directional trading decisions. On the other hand, the “Two Zones” option generates two distinct zones of support and resistance, offering traders a deeper understanding of potential market turning points and areas of price consolidation.

By providing these adjustable inputs, the “Provlepsis” indicator enables traders to customize and configure the indicator according to their individual trading needs, improving the efficiency and versatility of their trading strategies.

A split example
split

Two Zones example
Two Zones

The indicator updates on each new bar. This means that in each bar you will have a new graph, starting from the opening price of the selected (of the movement value) bar.

Exclusive offer for the first 20 downloads at $35.00!

Disclaimer:
It is important to note that while the “Provlepsis” indicator can provide valuable insight into possible price movements, it is not a guaranteed prediction or a foolproof trading strategy. Market conditions can be unpredictable, and price movements can deviate from historical patterns. Traders should be careful and do a deep analysis along with using the indicator. It is advisable to test the indicator on historical data or in a demo trading environment before implementing it in live trading. Additionally, past performance is not indicative of future results. Traders should always consider their risk tolerance, financial situation and trading experience before making any investment decisions.

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