The ThreeCandles indicator, which features alerts, sends emails and push notifications.
The indicator analyzes candlestick charts and tries to find possible reversal points — patterns. Once a possible point is found, the indicator plays a sound alert and sends emails and notifications to a smartphone.
Literally, the condition is as follows:
- If there is a growing candlestick followed by another growing candle, which does not go beyond the shadow of the previous candlestick, and the second candlestick is followed by a falling candlestick, the body of which exceeds the size of the previous growing candlestick, we assume that there will be a reversal toward the SELL direction.
- If there is a falling candlestick followed by another falling candle, which does not go beyond the shadow of the previous candlestick, the third candlestick should be rising and its body should exceed the body of the previous falling candlestick, we assume that there will be a reversal toward the BUY direction.
In addition to analyzing candlesticks, the indicator also analyzes tick volumes — increase, decrease, as well as the size of the first candlestick. If the size of the first candlestick in the pattern exceeds the value in pips specified in the settings, then the volume analyzer is turned off.
The indicator is presented as colored candlesticks. The color is bright if a candlestick goes in trend direction, and is pale if against the trend.
MT5 Indicators – Download Instructions
Three Candles MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Three Candles MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Three Candles MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download Three Candles MT5 Indicator.mq5
- Copy Three Candles MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Three Candles MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Three Candles MT5 Indicator.mq4 is available on your Chart
How to remove Three Candles MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Three Candles MT5 Indicator (Free Download)
Click here below to download: