Clara 1.0 is a new indicator for ProRealTime that uses the Hull moving average, repulse, and ADX to find entries and exits in a very visual way.
It uses no volume so can also be used in Forex and CFD’s.
It works both in temporality and in tick charts.
To make it simple I will explain how it works with some examples, have in mind that in different charts the signals may change the order in wich they appear.
Entry
The dotted line called Trend power is over the 0 line, it means that the price should start to move in one direction.
The Clara Signal (red line) crosses the repulse indicator and gives the first signal.
The histogram becomes green, what means that it is the begining of a bullish trend. it finally goes over the 0 line.
We have two more signals that happen almost at the same time: the trend power and the trend confirmation (purple line) cross the repulse. It’s a good moment to open a position.
Exit
We have 3 different exit signals: the first one is the cross with the Clara Signal, and followed by the Trend Power and the Trend Confirmation. If it was not enough the histogram becomes red.
Let’s have a look at the purple line
As the name indicates it serves to confirm the trend, when the histogram goes up crossing the TC it means that the trend is stonger, the same in a down trend. If both of them are over or below the 0 line it confirms the trend.
The dotted line
The Trend Power tells as if a trend is strong enough or if it would be better to wait, if it’s positve it’s a good moment, if not maybe you should let the time confirm the trend.
I hope you find it interesting!