[astropark] Nova Bands V2

5 Jan 2021

Dear followers,

today an upgraded version of Nova Bands indicator, here below the previous V1

This is a great analysis and scalping tool for day trading on low timeframes (5-15 minutes) or to plan swing trades on hourly timeframes. It can be used also on high timeframes just for analysis current market trend.

The indicator plots a series of levels which create a nice bands flow.
The slope of levels make you easily understand when price is in consolidation, in uptrend or in downtrend.

The golden rule is always the same: buy low and sell high.
This indicator plots:

• 3 "price is low here" levels (from dark green to light green)
  
• 3 "price is average here" levels
  
• 3 "price is high here" levels (from purple to orange)
  

You can find more details on how to use the indicator in the description of V1.
Please, always remember that:

• when bands are flat, price is in consolidation and this is best condition to trade with nova bands
• when bands get nearer and nearer is called "Bands Squeeze": price is next to a main breakout move, volatility is coming!

The basic improvement in V2 is a different way to calculate the bands based on different timeframe resolution, default is setup to daily timeframe for example.

A trader who wants to be a winner must understand that money and risk management are very important, so manage your position size and always have a stop loss in your trades.

This is a premium indicator, so send me a private message in order to get access to this script.