Overview:
The BarCloseMarker software anticipates where the candle will close while it is still forming. This is specifically designed for strategies that call for entering at bar close when the bartype being used is a Range-based bartype. Unlike Time bars, a Range-based candle can close at any time once price has moved the required distance. The Candle Range Indicator displays 2 projected bar closing prices (up close and down close) and continually updates them as the candle continues to form. One of those 2 prices will eventually be hit so you can plan your trades accordingly.
Purpose:
Traders need the BarClose Marker software because trading any strategy that enters on bar close can be difficult when using Range-based bartypes, especially in fast markets. The software provides ample time to plan either a long or short trade by constantly updating the projected closing prices.
Elements:
- Projected Bar Closing Prices (Up Close and Down Close) updated in real time
- Supports any Range-based Bartype
- Multi Timeframe option for RenkoBXT bartype
- Audio Alert when Bar Closes
Functions:
The BarClose Marker software is best used when trading a bar close entry strategy on charts using Range-based candles. Adding the software to your trading chart will show the exact price to enter and continually update it as price action unfolds.
Problem Solved:
- Stops traders from second guessing trade location
- Stops traders from second guessing trade timing
- Stops traders from entering too late and missing out on most of the profits
- Stops traders from getting stopped out because they entered too early
- Stops traders from losing confidence because the market is too fast
