Ribbon Zones

This Ribbon graphical template helps to identify potential turning points. Statistically, it's rare for price to push down and continue before the red buy zone or push up and continue before reaching the top blue sell zone. These zones serves as potential entry areas. Even if price does intend to go lower, it's usually some upside first. Vice versa for selling. Even if price does hit 2-3 consecutive zones in a row, the likelihood of price turning becomes much stronger. A great way of filtering out getting in too early is to use this with the Reversal Area Templates. Price can reach these zones but at the same time may not fit the rules for the Reversal area templates. Use this in conjunction with your own analysis. 

Instructions: Run this EA in the strategy tester. You can use whatever start year you'd like. Once generated, save the template for that pair and apply it to a live chart.The most recent ribbon layout starts at the beginning session of every week.The EA should be applied to a live chart once before the market open the beginning of the week and it will update from there. Another think to keep in mind is that the most recent object is scaled slightly larger than the previous printed one. So the final print isn't 100% but it's close and the idea is the same.