• Overview
  • Reviews (4)
  • Comments (10)

Bar Color Trend

Combining the best of Price Action, Directional Movement, and Divergence/Convergence analysis, Candle Color Trend is a easy and reliable way to identify trend direction. The indicator automatically paints the candles according to the assumption that an uptrend is defined by prices that form a series of higher highs and higher lows. In contrast, a downtrend is defined by prices that form a series of lower highs and lower lows. Additionally, ADX Wilder indicator is used to measure trend weakness (consolidation), and a proprietary algorithm based on MACD was implemented to identify a potential reversion ahead. Each one of these scenarios is identified by a color that can be chosen according to your preference.

Candle Color Trend is surely be one of the best filters for your trend following strategy, but it is not recommended to be used as a standalone entry signal. For Expert Advisors, the buffer number 9 can be used. Values higher than 1 and lower than -1 mean up trend and down trend respectively. Potential reversion is set as 1 or -1, and finally, 0 is used for consolidation.


Parameter

  • ZigZag depth - The number of bars to be considered between highs and Lows, and it is related to the duration of the trend. Try different timeframes before altering this setting.
  • ADX Period - Period to be applied on ADX Wilder indicator in order to identify consolidations.
Reviews 4
Claudio Jones
131
Claudio Jones 2020.05.24 05:15 
 

Excellent work thanks for share

pipie3
62
pipie3 2018.10.24 09:30 
 

very predictable indicator for forex day trading, thanks!

sunnychow
8619
sunnychow 2019.01.12 16:32 
 

Thanks for share

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TrueSR Multi TF Support Resistance alert and panel
Behzad Movaghar
TrueSR indicator is a multi-timeframe panel and alert that finds nested support and resistance zones for all timeframes and gives alert when price has interaction with those zones. If you are using support and resistance (or supply and demand) zones in your trading strategy, this indicator and its alert and filtering system is a big time saver for you. Also doesn't matter what is your trading strategy, this indicator helps you to not caught in support and resistance zones. Indicator shows if pri
120 USD
Risk Reward Ratio
InvestSoft
This is the forex visual orders tool & forex position size (lot) calculator with intuitive panel. Risk Reward Ratio Indicator works on all kind of symbols: currency pairs, indices, metals, commodities, cryptocurrencies, etc.   If you want to make sure that Risk Reward Ratio Indicator works on your favorite symbols contact us and ask for 7-day free trial to test this tool without limits. If you want to place orders easier, faster and more intuitive? If you like to mark trade entry and exit p
30 USD
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Claudio Jones
131
Claudio Jones 2020.05.24 05:15 
 

Excellent work thanks for share

dsnx
29
dsnx 2019.04.26 03:06 
 

User didn't leave any comment to the rating

sunnychow
8619
sunnychow 2019.01.12 16:32 
 

Thanks for share

pipie3
62
pipie3 2018.10.24 09:30 
 

very predictable indicator for forex day trading, thanks!

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