Dear community, can any one help how to interpret the Hurst bands indicator from paidtofade.
How would the market entry and exit setups be more reliable with this indicator.
Regards,
The bands are supposed to show you dynamic support and resistance. Basically, you wait until a candle touches one of the bands and enter a trade in the opposite direction. It’s just a visual aid for the concept of support and resistance price action. Fibonacci(my preference), volume profile and others do the same thing with different visuals.
You can actually just use a naked chart and enter a trade in the opposite direction when price reaches a point where it has stopped and reversed in the past. The more price has stopped and reversed over and over again at a particular point, the better the odds are that it will do it again. Trade exits can be handled the exact same way or you can wait and see if it breaks through a support and/or resistance area to get more money out of a trade, but you risk winning less if it reverses.
Thanks for your answer