Ever wondered where the herd of Bulls and Bears is hiding within a candle? While a candle reflects the price movement during its timeframe, it doesn't reveal where the bulk of trading activity occurred. That's where the Temporary Fair Value (TFV) indicator comes into play.
The TFV indicator uses a single dot to pinpoint the core of each candle—essentially representing the Fair Price. This can be a game-changer for your trading strategy!
Parameters of the TFV Indicator
- Exponential: If set to 1, every tick carries equal weight. However, if you set it to 2 or higher, the most recent tick carries double (or even more) weight, emphasizing the latest price action.
- WingDing: This is the dot that appears on your chart.
How to Use the TFV Indicator
- This indicator can be utilized by automated trading systems that act on ticks, helping you avoid unnecessary trades triggered by insignificant price spikes.
- It serves as a reliable indicator for Temporary Fair Value, giving you insights into the market's fair pricing.
- Straight or nearly straight TFV lines can reveal important support and resistance levels.
- It’s also a more dependable indicator for identifying swing highs and lows.
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