This module is one of the most advanced technical analysis tools available in MetaTrader4. Bringing together chart retracements and market trend analysis, this indicator offers a simple overview of markets.
SmartForecast automatically calculates both short and long-term resistance and support. It also indicates volatility levels and market trends. Particularly important, however, is that it gives you a price evolution scenario with three targets which change in real time.
This tool uses some of the SmartTemplate technology and is already an essential indicator for the MetaTrader 4 platform.
Market Strength – This measures current market volatility while taking into account average volatility.
Daily Market Trend – This examines the strength of the daily market trend.
Average Line (yellow) – This line represents average values calculated on the basis of the last 100 values in the graph (long-term average line) and the last 50 values in the chart (short-term average line).
Support Line (blue) – This line is calculated from the average values in the chart and represents the lower line, the support price. The long-term line is calculated on the basis of the last 100 values in the chart. The short-term support line is calculated using the last 50 values in the chart.
Resistance Line (red) – This line is calculated from the average values in the chart and represents the upper line, the resistance price. The long-term line is calculated on the basis of the last 100 values in the chart. The short-term resistance line is calculated using the last 50 values in the chart.
The SmartForecast gives you three consecutive target prices. Please note that their places on the chart are not indicative of the time that those prices will be reached and can be reached at any time.
Price 1 is calculated using the short-term resistance and support lines. Price 2 is calculated using the long-term resistance and support lines and Price 3 is calculated based on the assumption that Price 2 has been confirmed.
Although SmartForecast gives the best investment scenarios when looking at the long term, you can also use it for short-term forecasts.
The provision of these indicator forecasts should in no way be considered as investment advice from ActivTrades or any related party. The indicators are for information purposes only and should not be used as a basis for investment decisions. Please ensure that you fully understand the risks involved and seek independent advice if necessary.