How to use the DeMarker indicator?

@conor 

To use the DeMarker indicator, you can follow these steps:

1. Understand the DeMarker indicator: The DeMarker indicator is an oscillator that shows the overbought and oversold conditions in the market. It ranges between 0 and 1, with values above 0.7 considered overbought and values below 0.3 considered oversold.
2. Plot the DeMarker indicator: Open your preferred trading platform or charting software and find the DeMarker indicator. Add it to your chart, specify the period (usually 14 periods), and select the color and line style you prefer.
3. Analyze the overbought and oversold conditions: Look at the DeMarker indicator on your chart. When the indicator crosses above the 0.7 level, it suggests an overbought condition, which could be a signal to sell or take profits. When the indicator crosses below the 0.3 level, it suggests an oversold condition, which could be a signal to buy or enter a position.
4. Confirm with other indicators or analysis: The DeMarker indicator should not be used alone, as it can give false signals. It is recommended to use it in conjunction with other technical indicators or analysis tools to confirm signals.
5. Consider divergences: Look for divergences between the DeMarker indicator and the price action. Divergences occur when the indicator shows a different direction than the price. For example, if the price is making higher highs, but the DeMarker indicator is making lower highs, it could signal a potential reversal.
6. Practice and refine your strategy: As with any technical indicator, it is essential to practice and refine your strategy. Test different periods or settings for the DeMarker indicator and combine it with other indicators or analysis techniques to find what works best for you.

Remember that although the DeMarker indicator can provide valuable insights into overbought and oversold conditions, it is not foolproof. It is crucial to consider other factors such as market conditions, trends, and other technical analysis tools before making trading decisions.

@conor 

Here is a summarized version for better understanding:

1. Understand the DeMarker indicator: It shows overbought and oversold conditions in the market ranging from 0 to 1.
2. Plot the DeMarker indicator: Add it to your chart with a specified period (usually 14 periods).
3. Analyze conditions: Values above 0.7 indicate overbought, while those below 0.3 suggest oversold.
4. Confirm with other indicators: Use it alongside other tools for validation.
5. Consider divergences: Look for differences between indicator and price action.
6. Practice your strategy: Test different settings and combine with other indicators to refine your approach.
7. Remember it's not infallible: Consider various market factors before making trading decisions.