
Candle Average V3 Indicator
Platform: MT4 Type: Trend Last update: January 15, 2025The Candle Average V3 Indicator for MT4 uses a custom formula to calculate trend-following values and displays them as rising and falling histogram bars. It’s based on a moving average length and high, low and close prices for given period.
Example chart:
How to understand the signals provided by the candle v3 average indicator?
All readings of this indicator are in relation of the zero level which is considered neutral. When the blue bars take positive values (above 0) a trader should be looking only for a buy opportunities. Similarly, when the bars take negative values (below 0) one should be looking solely for a sell opportunities.
These candle patterns are recommended to use these as a filter for market direction instead of exact trade entry points.
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