Bright Road is an indicator that shows the direction and sustainability of trends, and also shows their possible reversals. The indicator should be used to look for successful entries, performance bottlenecks to minimize risk, and time to exit the executed trades. One of the characteristics is that the indicator is never drawn again. We are talking about a straightforward visual tool to set up for both beginner traders and more experienced traders. Bright Road fits any style of trade.
The indicator is immediately displayed on our screen in an open chandelier with two lines, called Way and Bright. It’s a smooth movement, and it’s drawn like a solid orange line. It also shows the direction of the primary trend and strength. It appears as a line of circles, of red, blue, or yellow colors.
How to Use the Bright Road Indicator
BUY – the BRIGHT line must always be below the price and its color changes to blue.
SELL – the bright-line should always be above the price, and its color changes to red.
REVERSAL – we will see on the screen various yellow circles in a row.
TOP TREND CONFIRMATION – A chandelier opens above the road when a blue circle is below the road.
TREND DOWN CONFIRMATION – A chandelier opens below the road when a red circle is located above the road.
For additional indications, you can use the line intersection – ROAD line crosses the growing BRIGHT line, this means that we are on a long-term trend.
It is recommended to use 2 screens to make the most of this indicator. When your trade is based on the indicator: you have to identify the trend changes in a higher time frame, and then enter the market following the trend in a lower time frame.
Configuration of the Bright Road Indicator
This indicator has only one configurable parameter, which is Depth:
DEPTH – the depth of analysis of historical data. The indicator requires a substantial depth for analysis, at least 30 bars are recommended. Although by default there will be 54 bars.
Warning
Bright Road is a trend indicator and can possibly produce false signals during a long flat and lateral movement or in case of sudden market movements (for example, sliding movements caused by relevant news). This indicator is not, of course, a complete trading system. The developer recommends using it along with other indicators as well as checking the fundamental analysis.
This is one of the many trend indicators that exist in the market. Bright Road has been running since 2016 and yet few users seem to have been encouraged to use it. The indicator can be found in the MQL market where the developer, Maxim Kuznetsov, appears very active in the comments showing the benefits of its indicator.
We believe that there are other indicators on the market that are easier to use and even more comprehensive. Anyway, if you are interested in this indicator, you can buy it in the MQL market for 45 USD, which will give you the right to use it for a year. You also have a free demo to familiarize yourself with the indicator before buying it.