The Target band indictor monitors that when a change in the price occurs at a specific time then it calculates the total price and defines the overbought and oversold market areas.
Target Band Indicator
This indicator calculates these changes by taking a number of period’s data and then displays the results.
How it works?
The target band indicator use bands. For the price changes it uses bands and displays the result in the form of bands on the chart. When the trend is moving down the bands also moves down. When the trend is moving up then the trend also goes up. At every timeframe the bands of the indicator touches the price points. It tells the price change through drawing a circle dot on the chart around the band. The target band indicator can works with any forex strategy system.
When the trend is moving down then the sell signal occurs and the trader then only keeps interest on the sell signal. It is displayed in the brown band.
When the trend is moving up then the buy signal occurs and the trader then only keeps interest on the buy signal. It is displayed in the blue color.