This is a simple indicator informing of the arrival of n candles. A signal is triggered when n candles are formed on the market (n value is customizable) indicating a strong trend and possible reversal. For example, 5 bullish candles have formed on the market. 3 of them are big (relative to the context) - the signal is triggered.
- Number of Candles - number of necessary candles
- Filter ON/OFF - enable/disable the filter
- SMA Period - period of SMA used in the filter
- Number of big candles in filter - necessary number of "big" candles for triggering the filter
- Give signal - activate a signal
The indicator features a filter for big candles. A candle size is defined based on the moving average period.
The filter looks for m big candles among n candles of the same color (direction).