The indicator is intended for roughly estimating the direction of the next candlestick, depending on exceeding the average candlestick range over a period of time.
If the range of the current candlestick exceeds at least double (to be defined in the parameters) of the average range of candlesticks over a period of time, the next candlestick can be in the same direction as the current one.
It has two parameters:
Period – period for calculating the average range
Multiplier – multiplier to calculate the threshold value
Trend Dashboard Indicator - indicator MetaTrader 5 Trend Dashboard Indicator MetaTrader 5 indicator — a multi-timeframe indicator that is based on three standard indicators: Stochastic oscillator, RSI…
