The indicator counts Bull and Bear candles in Bar_Period bars and calculates percent.
When blue line is up to 61.8% and red line is down to 38.2%, the trend is completed. When blue and red lines are near 50%, the trend is started.
MT5 Indicator – Download Instructions
CandleColorCounter is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
CandleColorCounter provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install CandleColorCounter.mq5?
- Download CandleColorCounter.mq5
- Copy CandleColorCounter.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on CandleColorCounter.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator CandleColorCounter.mq5 is available on your Chart
How to remove CandleColorCounter.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: