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Candle apex

This is an oscillator that makes calculations based on the OHLC (open, high, low, close) of a candlestick.

The indicator can be used to identify trend.

  • If the value of the indicator is above 0 = uptrend,
  • If the value of the indicator is below 0 = downtrend.

The indicator can be used to provide sell and buy signals as well. A cross of the 0 upwards is a buy signal and vice versa.

Setting up:

  • You can adjust the period.
  • You can specify if the indicator is to take the volume into account or not.
This indicator should be used with caution and you have to remember that a single indicator can't create a technical strategy.
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