The strength candle forex Indicator is a unique indicator that shows the strength of a bar, candle, or line.
Many traders don’t place orders precisely at the beginning of a chart candle formation. Mostly one will like to see the direction of the chart candle and then open an order. In so doing, the trader only depends on the lady’s lack of profits because it is not a guarantee that will maintain the direction of candle formation throughout the chart candle formation timeframe (M1, M15, M5, H1, H2…. D1)
The market movement is determined by many forces, one of which is the forces due by traders. If forex traders place the same type of orders at a particular market level, the level becomes oversold or overbought, and there will be no liquidity in the market. The forex market will tend to retrace a little bit to gain liquidity. If you had placed your stop loss(SL), it might be hit, or if your money weren’t enough to withstand the market retracement due to the lot you had opened the trade with, your account would be wiped clean.
Therefore it would be an added advantage for you if you were well aware of the nature of the forex market at a level before deciding to open a position.
This is why you have to use forex indicators such as the strength chart candle indicator.
Trading using the forex strength candle indicator
The Strength Candles forex Indicator is an informant that shows a graph of trading tools exhibiting the muscle between bull chart candles and the bears on the D1 to M1 timeframes as red and green color histograms with ratios ranging from 0 to 100%.
It shows the total balance between the forces of the traders who have placed buying market orders and those who have opened market selling positions and presents it in percentage form. It indicates the strength of the chart candles of all the chart timeframes regardless of the timeframe you use. For example, from the chart above, there are histograms showing the strength of D1 to M1. The sell entry orders strength is shown using red color, and the buying strength is green. Then the percentages are shown at the bottom of each forex histogram.
The trader should analyze the strength shown in all the timeframe forex indicators before opening a chart position. From the above mt4 chart, it is visible that the market buyers have a greater force in moving the market, so the probability of the market rising is high.
This exchange strength forex indicator usually doesn’t use or depend on another indicator like the moving averages(MA) or any other. Therefore it doesn’t delay in providing its information; its information is almost instant.
This forex indicator is designed for use with the Metatrader4 platforms on any currency pair and using any time frame in the range of M1 to Daily.
However, traders should be advised that this indicator is not enough to indicate whether to open a position or not. Should always use it in combination with other indicators.
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Strength Candles Forex Indicator Free Download
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