Trio Sane Candles
The Trio Sane Candles indicator analyzes the behavior of the price using three different algorithms, which are displayed at the current bar as a histogram of three candlesticks that have bodies but no wicks. The indicator works on all symbols and timeframes. The indicator clearly displays the beginning and end of the trend, and allows to filter false signals such as sudden twitches and leaps of the price.
- The three blue candles on a bearish trend mean the price reversal. You can open a Buy order. When that happens, the indicator generates an Alert - LONG signal.
- The same three small blue candles on a bullish trend mean that the market is undergoing correction, and it is better to wait.
- One big blue candle means a powerful uptrend. The bullish movement will most probably last for some time and a long position should be kept for a while.
- Two blue candles and a pink one, as well as two pink candles and a blue one, mean correction or possible trend change. It is recommended to wait for the next bar.
- Three small pink candles on a bullish trend mean the price reversal. You can open a Sell order. When that happens, the indicator generates an Alert - SHORT signal.
- The same three small candles on a bearish trend indicate a trend correction.
- One large pink candle indicates a powerful downtrend. A short position should be kept for a while.
This indicator has no input parameters to adjust the sensitivity.