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The InSync Index is a consensus oscillator created in 1995 by Norm North. A consensus oscillator is an indicator that generates an output using the value of many other trading indicators.
The InSync Index is calculated by summing several technical analysis indicators including the Bollinger Bands, Moving average convergence/divergence, Commodity channel index, Relative Strength Index, Rate of change, Stochastic, Detrended Price Oscillator, Ease of movement and Money flow index.
Each trading indicator is compared to specific thresholds and a value of -5, 0 or +5 is then added to the InSync Index. The Relative Strength Index for example is compared to 70 and 30 levels. If RSI is higher than 70 then a value of 5 is added to the InSync Index. If its value is lower than 30 then a value of 5 is removed from the InSync Index, otherwise the InSync Index is unchanged and in this case, the RSI indicator do not contribute to the InSync Index.
The InSync Index can be used in the watchlist and screener tools to detect extreme levels. Values higher or equal to 80 are considered to be high extreme levels, while values lower or equal than 20 are considered to be low extreme levels. When an extreme level is reached, the InSync Index should be confirmed by another indicator (fundamental, options-based or another indicator not already used in the InSync Index calculation) or a candlestick pattern.
This trading indicator works well in ranging markets and shouldn't be applied in trending markets.
The InSync Index function name is "InSync". The indicator requires no parameters.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
