Forex-Mass-Index-Indicator
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Forex Mass Index Indicator
The Mass Index forex indicator for MetaTrader4 was developed by Donald Dorsey and deploys the high-low range to spot reversals in trend in respect to expansions in range.
In this vein, the Mass Index is a volatility technical studies that is devoid of a directional bias.
In its place, it spots range bulges that usually warn of a possible reversal in the current trend.
Basically, the Mass Index does remarkably well at spotting impending change in trend, but cannot tell the direction the trend is changing.
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Mass_Index tries to spot “reversal bulges” as described by its creator. When the Mass_Index moves above the 27 level, a bulge kicks in. The signal is not complete on the initial bulge.
The creator of this indicator waits for the bulge to reverse with a move below the 26.50 level.
Upon completing the reversal bulge, chartist are expected to deploy other technical studies to ascertain the direction of the next price move.
The Mass_Index surges as the high-low range widens and dips as the high-low range narrows.
Preferably, a downtrend that is trailed by a reversal bulge would indicate a bullish trend reversal.
On the contrary, an uptrend that is trailed by a reversal bulge is indicative of a bearish trend reversal.
To be able to yield more signals, chartist should deploy other analysis procedures to compliment the Mass_Index indicator.
Volatility can always be measured using standard deviation or other technical indicators like standard deviation, while the reversal bulge function of the Mass_Index can offer a matchless outlook regarding the condition of the market.
