Trend Scalper Candles
The indicator looks for short-term trends on the basis of the Indicators MACD, RSI, and ATR. All calculations are visualized colors candles, overlapping on the chart.
The indicator uses gray, green and red color to draw the individual candles.
They point to the flat. Used to trade breakouts. Build top and bottom of the range and trade at a breakthrough in the direction of the current trend.
To search for a long-term trend recommend using the EMA 150 and 200 on the H4 chart. Meaning 2 above EMA considered a rising trend, lower - downward.
- They point to an upward trend
- Green candle with a green dot below the low candles indicate a strong upward trend
Point under the green candle can be used as a visual cue to move stop-loss at this level and fixing a profit. Distance from the point of the minimum spark calculated using ATR parameters.
- They point to a downward trend
- Red candles with a red dot above the high of the candle indicates a strong downward trend
Point over red candle can be used as a visual cue to move stop-loss at this level and fixing a profit. Distance from the point of the maximum spark calculated using ATR parameters.
- ATR period - the period of ATR
- ATR multiple - ATR multiplier
- MACD fast EMA setting - setting the fast EMA MACD indicator
- MACD slow EMA setting - setting the slow EMA MACD indicator
- MACD signal period setting - setting the signal MACD period
- MACD applied price - type MACD prices
- RSI period - period RSI
- RSI applied price - type RSI prices
ATR parameters used to calculate the recommended level stop-loss for trailing stops at a strong trend.
MACD and RSI isplzuetsya parameters for the calculation of the current mikrotrenda and force of movement.