Metatrader 5 version of the famous Andre Machado's Tabajara indicator. If you don't know Andre Machado's Technical Analysis work you don't need this indicator...
For those who need it and for those several friend traders who asked this porting from other platforms, here it is...
- 8-period Moving Average
- 20-period Moving Average
- 50-period Moving Average
- 200-period Moving Average
- Colored candles according to the inflexion of the 20-period MA
- You can change the Period of all MA's.
- You can change the color, width and style of all MA's.
- You can change the color of the candles.
Before applying the indicator, prepare your layout with the base color for your candles. Only the candles affected by the rules of the methodology will change colors, the rest will remain with the colors set by the layout properties (right-click on the chart and choose PROPERTIES > COLORS).
If you like this indicator, just give us a star... ;)
Live Long and Prosper.