Candle Movement Monitoring Indicator

Candle Movement Monitoring Indicator

Candle Movement Monitoring Indicator For MT4 provides forex price movement of past 3 candles including candle color, minimum, maximum and average in pips.

The Candle movement monitoring indicator for MT4 is an excellent tool providing multiple details of candlesticks and price movement. This forex trading tool helps traders to see information regarding maximum, minimum and average price movement of the time frames in pips. It provides these details for M1 to D1 chart time frames. Additionally, this indicator shows the direction of the current candle and previous 3 candles. As a result, forex technical traders can identify and understand the price movements at a glance.

This indicator is easy to use and works well for new and advanced forex traders. Moreover, traders can apply this indicator on any chart time frame as it derives the data independent of the chart. As the indicator provides data from M1 to D1 it is useful for scalpers, short and long-term forex traders.

Candle Movement Monitoring Indicator For MT4 Trade Setup

The indicator shows daily high and low prices on the top row. It is followed by maximum, minimum and average pip movement of the M1 to D1. The next rows 3, 2 and 1 contain the bullish or bearish candle color of past 3 candles while 0 represents the current candle color. This simple interface of past 3 candle colors provides the bearish or bullish market condition.

The last row contains information about the price movement of the current candlestick in pips. Thus, the entire display provides comprehensive information about the price movement. Forex traders using trading strategies which require the average price movements will benefit the most from this indicator.

Conclusion
In summary, the Candle movement monitoring indicator for MT4 does not provide bullish or bearish forex trading signals. But, it provides actionable data on forex market price movement of multiple time frames at a glance.