The indicator uses the daily charts to analyze the trend direction and colors the average line on the chart.
The green color means that the market moves upwards that day, red color - downwards. The yellow chart indicates the presence of a flat movement on the daily charts. This indicator does not use the average line in its calculations, the line is used to display the current trend and as an auxiliary tool in trading.
How to Use
The indicator displays the current trend based on the daily charts or specified time period. Look for signal in the direction of the average line color, if it is green then look for buy signals, if it is red, look for sell signals. If the indicator displays yellow color, then do not take any action.
This indicator can recolor the line during the current day, which indicates the change in the trend during the day, and it is recommended to revise the trading plans.
- TF Filter - timeframe of the filter, by default - daily candles
- TF MA - timeframe of the line, which will be displayed in the chart of the specified timeframe. The current timeframe is used by default.
- MA Period - average line, that will be plotted on the chart
- MA Shift - shift of the line
- MA Method - averaging method
- MA Price - calculation type
- Days Count - the number of days to display using the average line