This tool uses constantly evolving Price Action to predict the direction of Price. It is a highly predictive tool that provides insights into the potential price highs and lows.
The tool is ticked off as the default setting but can be turned on simply by checking the box next to the indicator name in the settings.
The Price Projection tool uses 3 main colors to show the direction of Price Action; Red for above Price Action, Green for below Price Action, and Yellow for centerline Price Action.
The Red Line is above the Price Action and when the price reaches this level it increases the probability of a Reversal to the downside.
The Green Line is below the Price Action and when the price reaches this level it increases the probability of a Reversal to the upside.
The Yellow Line is the Centerline of the Current Price Action. When the Price gains or loses this level it can indicate that the price will continue in that direction.
The best way to use the indicator is on the lower timeframes such as the 15-minute. Look for Confluence as price reverses off of the Green or Red levels or gains/loses the yellow centerline. It is important to use this indicator with the “Confluence” of other key tools such as S & R levels, Key Timeframes, etc.
Adjusts the type of lines used by the Price Projection Tool. The default line is solid but can be changed to dotted or dashed