Candlestic indicator
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hi all / Mr Tools / Mladen,
I'm looking for an indicator which will identify (I dont' really mind how e.g. with an arrow or changing the colour of the candle perhaps) if the size of the candle is 'x' times or more than the average size of the previous 'n' candles.
The indicator would also allow the user to choose whether it's just the body or body + wicks that is being compared.
I want to use this in relation to a trend continuation system that I'm testing. I've found that a consolidation / pullback against the major trend and then a large candle (relative to the previous 5 or so candles) in the direction of the trend is often a good sign that the trend will continue at least for a while. Obviously there are other considerations but this indicator would be really useful if it exists?
Thanks!