DR.KHASHIX CandlePower Indicator - Version 2
The DR.KHASHIX CandlePower Indicator, now in Version 2, introduces enhanced capabilities for a more nuanced market analysis. In this version, the indicator calculates the average height of the latest 10 candles and compares it to the average height of the last 100 candles. This comparison provides valuable insights into the current candle's strength relative to a longer-term candle height average.
How to Use:
The indicator's value at each chart point reflects the strength of the current candle. Higher values denote more robust candles, while lower values indicate candles with less strength.
Displayed as decimal numbers, the Label provides a precise measurement for analysis, offering additional insights into candle strength.
Order Block Breaks:
The CandlePower Indicator remains a valuable tool for predicting order block breaks, now with enhanced sensitivity due to the refined calculation based on the average height of recent candles.
Incorporate Version 2 of this indicator into algorithmic trading strategies for improved decision-making, especially when considering the short-term versus long-term candle strength dynamics.
For default settings, the indicator now compares the average height of the latest 10 candles to the average height of the last 100 candles. It is still advisable to use this indicator alongside other technical tools for a comprehensive market analysis. Your experience and market analysis skills play a crucial role in leveraging the full potential of this enhanced version.
// // The author hid the code of this algorithm
- Type: Free
- Language: C#
- Trading Platform: cTrader Automate
- Filename: DRKHASHIXCandlePowerv2.algo
- Rating: 0
- Installs: 133