The supertrend candles indicator paints the candles based on the current trend of the supertrend indicator. Bearish candles in an uptrend and bullish candles in a downtrend are painted a little lighter. The indicator also draws support and resistance levels to the chart.
the supertrend candles indicator for metatrader 4 shows the candles built on the existing trend of the supertrend indicator. Bearish candles in an uptrend and bullish candles in a downtrend are colored slightly lighter. The indicator also draws support and resistance levels to the chart.
this indicator is part of a very popular strategy for its simplicity, but very efficient technique. Basically, the trading signals can be obtained by observing the closing of the candles in relation to the supertrend line. When the candle closes above the supertrend line causing it to change color, you can buy at the maximum of this candle. Inversely, when the candle closes below the supertrend line causing it to change color, you can sell at the minimum of this candle.
forex trading reviews-supertrend candle indicator is a non-repaint tool. With your other analysis, you can create a good trading strategy. Suitable time frames are h1, h4, d1 & you can use this indicator for any currency pairs.
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Converting strategy to indicator for those who want to use it as indicator. Calculate atr and derive supertrend on the moving average candles. Bullish pullback - supertrend is green but close crossed below moving average high.
supertrend candles is the best free trading indicator for mt4 platform, supertrend candles is used by novice traders as well as financial markets experts - mtdownloads free trading robots catalog english.
the supertrend indicator can be used using any stock trading application or even using microsoft excel, and it creates a line graph plotted against the candlestick graphs, it is shown as an alternating line changing color from red to green, indicating the buy and sell points.
Supertrend is one of the most common atr based trailing stop indicators. In this version you can change the atr calculation method from the settings. The indicator is easy to use and gives an accurate reading about an ongoing trend.
supertrend formula upperlevel (high low)2multiplieratr (period) lowerlevel (highlow)2-multiplieratr (period) current time-frame version. Draws the indicator on the full chart history without a performance penalty.
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