Indicators
Welcome to the groundbreaking world of NovaBot's proprietary indicators — the innovative tools that elevate your trading experience. Designed with precision and deep market insight, these indicators serve as an integral component in NovaBot's trade validation process, as well as a valuable source of key market metrics.
Firstly, we have the NovaBotMomentum — a cornerstone of our system that plays a pivotal role in determining the validity of a trade. It employs a sophisticated algorithm to meticulously evaluate market trends and momentum, providing you with reliable trading signals.
Next is the NovaBotEssentials — an indispensable tool that enriches your trading strategy by providing vital market information at your fingertips. It includes daily highs and lows, opening prices, the previous day's closing figures, and more, giving you a detailed snapshot of the market landscape.
NovaBot Momentum
The NovaBotMomentum indicator serves a critical function within the NovaBot Trading System. It is instrumental in determining the validity of a trade - whether it should be executed - and in establishing the Stop Loss position for that trade. Green signifies positive momentum while red indicates negative momentum.
The trend lines reflect the number of pips that the asset gained (or lost) between a previous peak and the point where momentum crosses the zero line. This provides valuable insight into the asset's volatility.
When NovaBot operates in 'Active' mode, it incorporates the values from this indicator when deciding whether to execute a trade and where to set the Stop Loss. While these aren't the only factors NovaBot considers, they significantly influence the decision-making process. The video below offers a more detailed explanation of this indicator.
NovaBot Essentials
The NovaBot Essentials indicator equips you with a comprehensive array of critical trading information, all within a single screen display. This powerful tool provides a wealth of insights about the asset you are trading, from basic data such as the daily open price, yesterday's high and low points, and today's highest and lowest values, to more complex elements like crucial trading levels, daily and weekly Volume Weighted Average Price (VWAP). In addition, it also alerts you to news events that may impact the asset and offers essential information about the trading symbol. The NovaBot Essentials indicator is your all-in-one source for the information you need to make informed trading decisions.