If you're looking to sharpen your trading edge, the Advance Trend Pressure indicator is a must-have tool for your MetaTrader 5 platform. This nifty indicator provides insights into both the direction and strength of market trends, helping you make informed decisions.
So, how does it work? The Advance Trend Pressure indicator assesses trends by analyzing various price points. For bullish candlesticks, it considers the Close-Open, High-Close, and Open-Close prices. Conversely, for bearish candlesticks, it looks at the Open-Close, High-Open, and Close-Low prices. Essentially, it evaluates the size and direction of candlestick bodies along with their shadows, giving you a comprehensive view of market dynamics.
The indicator comes with two key parameters:
- Period - This defines the calculation period for the indicator.
- Show lines Up and Down - This option allows you to visualize the bullish and bearish components of the trend.
Fig.1 Trend direction and strength line.
Fig.2 Trend direction and strength line with the lines of bullish and bearish components.
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