TriggerCharts indicators can be used on stocks, Forex, futures and generally any security that trades. here we are looking at the recent weekly chart for the Turkey ETF.
This country’s markets have been hit hard lately and the AutoPilot indicator did a great job of locating and zeroing in on the most opportune time to enter a short position. Below is the chart with only the AutoPilot indicator using the default settings.
Notice that the yellow signal for the short came when the weekly bar turned yellow at $54.91 – it was also confirmed on the daily chart as well.
If a short had been entered, the profit at this point would be 24%! Obviously the profits will only be realized when the position is covered – that is why a close watch of AutoPilot on the lower time frames (daily as an example) is important to catch as much of the move as possible.