Magneto RZ

Magneto RZ defines price reversion zones. The built-in algorithm allows it to efficiently find levels acting as price magnets. The percentage of used levels is high enough – about 90% or more depending on the analyzed pair and market conditions.

What Is Magneto RZ?

The chart is limited by red (top) and blue (bottom) zones reminding traders of a traded pair's overbought or oversold state. Thus, when the price approaches the red zone, selling is the most appropriate action, while buy positions are preferable when the blue zone is approached.

Main displayed levels are horizontal lines with X Days text label. Green lines stand for complete levels that have reached their target when touching the price. Orange lines are incomplete levels.

Reversion zone is formed all current day and can change its value several times. Thus, I recommend that you use complete previous days' levels as a target instead of the current day's one. However, trades can be performed with new levels in case volatility is decreasing during the day.

Recommended pairs: EURUSD, GBPUSD.

important! The indicator is sensitive to the quality of quotes. It is better to avoid time scale "gaps" on the chart. The gap is considered as the absence of a candle and ignored in calculations.

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