The indicator shows the size of candlestick elements. One histogram bar corresponds to a certain element size on a current candlestick, the histogram line indicates the daily average value of selected elements. A histogram bar changes its color to the color of the line if the element size exceeds the daily average.
Input Parameters:
inpType — display type (show the size of upper shadows, lower shadows or bodies);
inpClr — histogram color (if the element size exceeds the daily average);
inpNeutralClr — neutral color, if the element size doesn’t exceed the daily average.
Tips:
Analyze the values of upper shadows after an uptrend movement, and the values of lower shadows — after a downtrend movement (trend reversal).
It can be used as a confirming signal to determine important price levels (instead of a candlestick patterns indicator).
It can be used as a basis for developing candlestick indicators.
MetaCOT 2 CFTC ToolBox (Set of Indicators) MT4 -… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
EasyAndFastGUI library for creating graphical… EasyAndFastGUI v2.0 A new version of the EasyAndFastGUI v2.0 library for creating graphical interfaces has been released! This library contains…
MACD Sample - EA MetaTrader 5 The MACD Sample EA is included in the standard pack of the MetaTrader 5 client terminal and is an example…
Fuzzy - library for developing fuzzy models -… Real Author Dmitry Kalyuzhny. FuzzyNet project website - Unzip the archive into the terminal_data_folder. The library codes are located in…
