The grid indicator is such a simple indicator that the investors can use it very easily. This indicator is used to know the Price changes in the chart.
All the dynamic changes in the price can be seen through this Grid Indicator that is a tough thing for traders to observe these all changes.
Working of Grid Indicator
The grid indicator can be used for any type of time frame like weekly or monthly. Different color lines are used to display the price changes and the different time frame bars. There are horizontal and vertical lines that this Grid Indicator use.
The horizontal lines in the blue color tell the different price levels in the chart. The vertical line bars are also used for the changes. But some traders use these lines for the time frame sequences. The work by using both lines create some complexity at a time. So most traders use the horizontal line bars for the results.
The vertical line bars give help to the traders that they can know the last stage of the trade. So from this estimation, the trader can continue his trade for a specific time or also can leave from the trade for a period of time.