If you're looking to tighten your risk management, the HOOL (High-Open, Open-Low) indicator is a handy tool to consider. This simple yet effective indicator helps you pinpoint your Stop Loss levels with ease.
The values it produces are measured in pips, making it easy to integrate into your trading strategy.
- Green: This represents the distance from the Open price to the High price. It gives you a quick visual on how far the price has moved upward.
- Red: Conversely, this indicates the distance from the Open price to the Low price, showing you how much the price has dipped.
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