Confluence Area
Last updated
Last updated
The Confluence Area feature in Angel Algo provides users with valuable insights by visually representing the alignment or confluence between different indicators or conditions on their charts. It helps traders identify areas where multiple signals or conditions coincide, thereby enhancing the confidence in their trading decisions.
Confluence areas are depicted on the chart as specific zones where multiple indicators or conditions align. These areas are highlighted to draw the user's attention to points of potential significance in the market.
Confluence areas are determined based on the simultaneous occurrence or alignment of various indicators or conditions set by the user. These may include:
Signal crossovers or intersections.
Price levels corresponding to support or resistance zones.
Overbought or oversold regions.
Trendline intersections or confluences.
Users have the flexibility to customize the parameters and criteria for identifying confluence areas based on their trading strategy and preferences. They can adjust settings related to the indicators, timeframes, sensitivity levels, and other relevant factors to fine-tune the confluence detection process.
Traders can leverage confluence areas as confirmation signals or decision points in their trading strategies. When multiple indicators or conditions align within a confluence area, it may signal a higher probability trade setup or provide additional validation for existing trade ideas.
Two areas of what is known in the public domain as RSI provide a deeper understanding of the of money into and out of an asset. Functionality: These areas help pinpoint potential area where the asset is either overbought or oversold, augmenting other indicators within the oscillator
On the oscillators pane, users can observe one area (above 100) and one area (below 0), representing the bullish/bearish confluence between the Super Wave and Money Flow oscillators.
When both the Super Wave and Money Flow oscillators indicate an uptrend, the area appears in a darker green color. If only one of the oscillators indicates an uptrend, the confluence area appears in a brighter green color. This same logic applies to the area in the case of a downtrend.
