AmirDehghani wrote: Wed Oct 31, 2018 4:11 am
Dears,
How we Have to Interpret This indicator?
Thanks
It is made by Fourier Transformation. A signal (our course) consists of sinusoids with different frequencies, amplitudes and phase shifts.
Via FT, here I guess, it's Fast Fourier Transformation, you go from the Price-Time-table into the Price-Frequency-table (via Transformation), where you can better calculate and get the frequency (period), amplitude (cycle strength) and phase shift (phase) of each sine wave. With that you can come back to the Price-Time-table and draw the waves one by one or as composite as Görtzel does.
It is a offline tool for signal processing, not made for live trading, so it is "repainting" per definition. When the composite goes up, only search long entries and when the composite goes down, only for short entries. Be aware that price and composite must be synchronous.