Pinkish Trend Indicator
Platform: MT4 Type: Trend Last update: September 15, 2024The Pinkish Trend is responsible for colorizing candlesticks directly on the activity chart. It uses custom calculations to define past and current trend and presents the results in a very beginner-friendly way: there are only visible green and pink bars. In fact, the signals generated by this forex indicator are pretty solid as well.
Trading with pinkish trend
The approach is pretty simple: a potential trade opportunity occurs after switch between bars colors. During favorable market conditions these standalone signals may be enough for profitable outcomes. However, we recommend to combine in with other technical analysis gauges for improved success rate.
For example, one can onboard a moving average and trade only in the alignment with it. Let’s say there is strong bullish trend, but price made a pullback and bars turned pink. There is high probabality the original direction will be resumed and trade can take their chances at first green candle after correction.
Example charts