– T.A explained –
Range = two or more consecutive color candles.
DISTRIBUTION RANGES DEFINED: BackSide (BS) Candle – First distribution candle in a distribution range. Expectation = strong reaction to price. long wicks reaching to or away from level.
FrontSide (FS) Candle – Last distribution candle in a distribution range. Expectation = reversal, create a trend in the opposite direction. Distribution candles are used as support.
ACCUMULATION RANGES DEFINED:
Inverse BS (Inv.BS) – First Accumulation candle in an accumulation range. Expectation. = strong reaction to price. long wicks reaching to or away from level.
Inverse FS (Inv.FS) – Last accumulation candle in an accumulation range. Expectation = reversal, create a trend in the opposite direction. Accumulation candles are used as resistance.
Horizontal Ray tool on BS & FS levels are default support levels when dashed lines, tested when dotted lines and resistance when solid lines.
Horizontal Ray tool on Inverse BS & Inverse FS levels default as resistance and shown with a dashed line, tested when 1x dotted line, and support when solid line.
The inverse is true for the Inv. BS Inv. FS levels, they are resistance as dashed lines, tested as dotted and support as solid lines.
Monthly timeframe is color pink
weekly grey
daily is red
4hr is orange
1hr is yellow
15min is blue
5min is green if they are shown.
strength favors the higher timeframe.