Bounce Strength Indicator
MT4 Trend TradingFree DownloadThe Bounce Strength Indicator is a forex technical analysis tool that shows the strength of a market bounce.
The strength of the buyers and sellers in the market is displayed in the form of histogram bars.
When the blue bars in the histogram spikes are higher than the red ones, you can consider the bulls are currently dominating the market. Similarly, when the red bars in the histogram spikes are lower than the blue ones, you can consider the bears are currently dominating the market.
In other words, pay attention to the size and direction of these spikes. To make readings easier, the upper range for the histogram is marked with a 10 level, and the lower range is marked with a negative 10 level.
Be extra careful, when there are big spikes in both directions. It reflects market indecision.
We suggest to use it as a filter for opening and exiting transactions. Go ahead and add it to your best trading system.
