Multi-Point Acceleration (Percentage)
This script is composed of multiple acceleration points, that work in conjunction to detect the acceleration of an asset, as well as it's direction. When used right, this script can help in finding precise entry points, be it long or short, regardless of an asset or a time-frame.
Components to the indicator
-The Multi-Point Acceleration code is displayed as a bar-graph, and it oscillates around the zero line.
-If it is above the zero line, it is considered that the financial instrument has a positive acceleration and the financial instrument will be increasing.
-If it is below zero line, it is considered that the financial instrument has a negative acceleration, and the financial instrument will be decreasing.
-The bar chart is color coded for a better visual representation:
a. Aqua where the Multi-Point Acceleration tool is above zero, and its upwards
momentum is increasing.
b. Blue where the Multi-Point Acceleration tool is above zero, and its upward
momentum is slowing down.
c. Red, where the Multi-Point Acceleration tool is below zero, and its downward
momentum is increasing.
d. Yellow, where the Multi-Point Acceleration tool is below zero, and its downward
momentum is slowing down.
How To Use It:
-This tool can be used for precise entry points when looking at the overall direction that the financial instrument is moving.
a. If a financial instrument is moving in an upward direction, finding bars that are below the
zero line and yellow can be used as a pullback entry to go in the direction of the overall
trend.
b. If a financial instrument is moving in a downward direction, finding bars that are above
zero line and dark blue, can be used as a pullback short entry in a downward trend.
-VERY IMPORTANT
Please remember that no indicator or script can guarantee success, and its effectiveness may change according to market conditions, as past results do not indicate future performance. Always consider your risk tolerance and investment goals before trading. Always backtest your trades to ensure that your trading is profitable before trading live
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