Introduction to the Candle Average V3 Indicator
The Candle Average V3 indicator uses a custom formula to calculate values and displays them in the form of histogram bars.
When these bars take positive values (above 0) a trader should be looking for buy opportunities. Similarly, when these bars take negative values (below 0) a trader should be looking for sell opportunities.
We suggest using that forex indicator as a filter, rather than a standalone buy/sell forex entry points provider.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Candle Average V3 indicator in MT4?
Copy and paste the CandleAverage_v3.ex4 or CandleAverage_v3.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Candle Average V3 indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Candle Average V3 Indicator Free Download
To download the Candle Average V3 Indicator for Metatrader 4 (MT4) for free just click the button below: