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LastNCandlesTrend

LastNCandlesTrend

 

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.


LastNCandlesTrend indicates

  • 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).


Inputs

  • 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.
      Note: If Ponderate is enabled and both Pond_OC and Pond_HL are enabled, Pond_HL prevails over the previous one.


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