Speedometer Indicator

Speedometer Indicator

The Speedometer Indicator focuses on speed and acceleration to indicate the trend’s direction.

The Speedometer Indicator measures and indicates the speed, acceleration, and direction of the trend. The indicator focuses on two key aspects: speed and acceleration. Speed refers to the rate at which the price is changing over a specific period, while acceleration represents the change in speed over time.

The Speedometer Indicator plots speed and acceleration bars on the chart. In addition, it illustrates red and green bars below the chart window.

How to use the Speedometer Indicator for MT4?

The above USD/JPY H4 chart shows the indicator on the chart. As mentioned above, the indicator uses the green and red bars to indicate the speed and acceleration of the current trend.

The green color represent bullish movements, indicating increasing speed or acceleration. On the other hand, red color red illustrates bearish movements, signaling decreasing speed or acceleration.

It’s important to note that the length or height of the bars can vary based on the magnitude of the speed and acceleration. Longer bars suggests a stronger trend, while shorter bars may indicate a weaker trend.

Conclusion
The Speedometer Indicator for MT4 tells about the acceleration and speed of the current bar. By analyzing the length and color of the bars, you can find out the strength and momentum of a trend.