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FiguresCandle - Indicator for MetaTrader 4

FiguresCandle
TypeIndicators PlatformMT4 Version10 Date created26 March 2014 Date updated19 August 2017
Formatmq4 Size4.4Kb Downloads502 Rating
3.2 of 5
based on 93 rates

The indicator is designed for integration into the MT4 trading terminal. It is suitable for traders who use candlestick analysis in trading. FiguresCandle looks for candlestick patterns on the chart, which may indicate a trend reversal. When finding those, it will identify possible areas of the reversal of color: red for a bearish absorption and blue for a bullish one.

When working with the indicator, it is necessary to take into account that its signals are correct only during a trend. In the flat market, its signals are often erroneous.

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