DeMark Projected Range Forex Technical Analysis and DeMark Projected Range Forex Trading Signals
Developed by Tom Demark.
This indicator is used to signal the potential high and low prices that a chart price is likely to reach.
This is referred to as the range projection and it is calculated using the open and the close prices of the most recent price period.
DeMark Projected Range
Forex Technical Analysis and Generating Forex Trading Signals
This indicator will show two points, the projected high and the projected low of a specific price period. This will be used as the reference point.
Bullish Uptrend Signal
If the next price bar opens above the projected high then the market will continue in an upwards Forex trend.
Bearish downtrend Signal
If the next price bar opens below the projected low then the market will continue in a downwards Forex trend.
Ranging Forex Market
If the next price bar opens within the projected range, then this is a signal that the market will remain in a range base.