LastNCandlesTrend is an indicator that uses statistical probability and price action to estimate the future trend.
- LastNCandlesTrend is designed for any environment.
- LastNCandlesTrend is non lagging.
- Real time Data is updated with the opening of each new candle.
- The indicator shows the trend variation in function of the chosen parameters.
- Green indicates uptrend and red downtrend, which is displayed in a secondary window.
Last N Candles works
- In any timeframe.
- With any kind of candles (japanese, renko, etc.).
- With any broker and spread.
Characteristics about LastNCandlesTrend
- Histogram represents trend variation.
How LastNCandlesTrend is used
- Put indicator in the desired chart.
- In the Properties (Inputs)
- Choose the number of candles (always> = 2) to calculate.
- Check whether or not you want to use Ponderate (weighted medias), and if so, choose from the available ones.
- Both the colors and the size of the bars of the histogram are configurable (Colors Tab).
- NCandles: Number of previous candles to be taken into trend calculation. (Minimum number must be >= 2).
- Ponderate: If true, calculate the weighted average in different ways, as we choose (Pond_OC, Pond_HL). If not, calculate the difference of previous candles (bullish vs. bearish).
- Pond_OC: Uses the weighted average between the opening value and the closing of each candle.
- Pond_HL: Uses the weighted average between the Maximum and minimum value of each candle.