How Do We Use It?
The 10X Bars Indicator was developed by Simpler as a way to understand trend quality and strength.
The 10X bars will plot green, yellow, or red based on the underlying calculation of the ADX and DMI indicators.
Green bars indicate conviction and trend to the upside.
Red bars indicate conviction and trend to the downside.
Yellow bars indicate no strong directional conviction.
Bars that show a dot indicate 30% above average volume on that timeframe, indicating stronger conviction to the trend.
For yellow bars, we want to either avoid those setups or trade them in a non-directional manner until directional conviction is established.
We want to trade in the direction of the 10X Bars as that gives us the best probability of success to a trade.