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The "Yesterday High Low" indicator for the MetaTrader 4 (MT4) trading platform is a powerful tool designed to help traders identify key price levels from the previous trading day. This indicator provides a visual representation of the high prices, low prices, high/low price averages, and intermediate average levels on the chart. Primarily used by institutional and professional traders, this indicator offers an instant view of price levels that are often considered crucial in financial markets
Price Channels are also known as Donchian Channels being named after Richard Donchian. They use the highest and lowest price of a set number of periods to create an upper and lower channel or envelope around the price. The upper channel shows the high of the number of periods chosen. The lower channel shows the low of the number of periods chosen. For example, the screenshot shows the Price Channels using 320 periods. The upper channel in the screenshot shows the highest high of the
The MACD Signal Candle indicator changes color according to the MACD trends. Colored Candles, based on MACD. HOW IT WORKS For a Buy: -If the indicator is above zero, the market is bullish. -If the market is bullish, you can take a stand with green candle signals. For a Sell: -If the indicator is below zero, the market is bearish. -If the market is bearish, you can take a stand with the red candles
The Awesome Oscillator (AO) Signal Candle Indicator is an indicator used to measure market momentum. Awesome Oscillator (AO) Signal Candle Indicator will change bar's color when set overbought or oversold levels reach. Colored Candles, based on Awesome Oscillator (AO) Signal. -If the indicator is above zero, the market is bullish. -If the indicator is below zero, the market is bearish. -If the market is bullish, you can take a stand with green
RSI Candle Signal Indicator will change bars’ color when set overbought or oversold levels reach. How to Use RSI Candle Signal Uptrend/Downtrends - RSI may be used to detect trending markets. For example, the RSI may stay above the mid line 50 in an uptrend. Top and Buttoms - RSI may help in identifying the tops around the overbought readings (usually above 70), and the bottoms around the oversold area (usually below 30). Divergence - divergence occurs when RSI directional
The Supertrend draws a line following the current trend.. Green Line under the candle means a likely bullish trend Red Line above the candle means a likely bearish trend How to trade with SuperTrend indicator Buy when the Supertrend Green line is below the price, Sell when the Supertrend Red line is above the price. It is strongly suggested to use this indicator in a trending market. Parameters Multiplier - the lower it is and the more sensitive is the line, meaning it will follow the price more