This indicator includes two lines which reflect the average pending orders for sale of Sell Limit type and others for selling of Sell Stop type. Both these types show that Forex market traders are ready to enter into short positions for selling on this pair.
The average price value of Sell Limit orders shows a nearly resistance level of the currency pair if the rally happens during the trades, so it is worth waiting for deceleration of increase in the rate, when approaching the middle entry point of Sell Limit orders. The average price value of Sell Stop orders indicates an approximate “breaching” level of the currency pair if the slump of exchange happens during the trades. This means that the average level, at which Sell Stop orders are set up, is that one at which bears are ready to join the descendent trend.
Both values of average entry points of Sell Limit and Sell Stop orders never reach the current price level, as while the price is moving to one or another side, the part of pending sell orders comes into action which causes the removal of estimating average entry point of Sell Limit and Sell Stop orders. Due to this the mentioned indicator can only be used in terms of analysis how close the average level of Sell Limit or Sell Stop is located against the current price at the present moment.
In MetaTrader Terminal of InstaForex this type of statistics is available in the form of XXYYYYYYY symbol, where XX has the following meanings:
