Price Rejector is an indicator that considers the most basic concepts of supply and demand:
- as the price of an item rises higher, fewer people will be willing to buy it it
- as the price of an item falls lower, fewer people will be willing to sell it
It follows that if we have a lack of sellers and an excess of buyers, price must rise and if we have a lack of buyers and an excess of sellers, price must fall.
Price Rejector is a powerful Order Flow tool for Sierra Chart that applies these basic concepts to trading and indicates when volume is falling at a price extreme as price rises or falls and this rise or fall is met by strong opposing selling or buying. It can be used on Numbers Bars and other chart types including bar, candlestick, Renko and Heiken Ashi and allows the trader to quickly assess potential for a low risk entry without the need to analyse the traded volume detail within Numbers Bars.
Price Rejector may be licensed for Sierra Chart on a Lifetime, 1-month or 3-month basis, or as part of the complete Emoji Trading Order Flow Suite. Licences include all indicator updates and enhancements during the license period.