If you're diving into trading with MetaTrader 5, you might want to check out the Bear Bulls Power Period Candle indicator. This nifty tool uses synthetic Japanese candlesticks to give you a clearer picture of market movements over a specified period.
The indicator color-codes candlesticks to help you easily spot trends: growing candlesticks are displayed in vibrant green, while falling candlesticks are shown in red. To make things even clearer, bright green indicates a close price that has risen compared to the previous candlestick, whereas a pale green shows a slight increase. On the flip side, a bright red candlestick signals a drop in close prices, while pale red indicates a slight decrease.
This indicator utilizes the SmoothAlgorithms.mqh library classes. If you're interested in a deeper understanding of how these algorithms work, check out the article on Averaging Price Series for Intermediate Calculations Without Using Additional Buffers.
Fig 1. Bear Bulls Power Period Candle
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