TTF Candles 2 AM 外汇EA

This indicator is based on the idea of a popular Trend Trigger Factor indicator (TTF).

The indicator determines a price movement direction comparing high and low of the current candle with high and low of a price for a longer period.

The indicator parameters:

• Long_TTF_Bars – number of candles to calculate the price movement direction for a longer period of time (cannot be less than 2)
• Short_TTF_Bars – number of candles to calculate the price movement direction for a shorter period of time (cannot be less than 2)

If set by default, the indicator generates following signals:

• A formed candle has Lime color – the indicator confirms consistent growth of highs and lows of the price. There are good reasons to place Buy Stop orders on high of the first candle having such color.
• A formed candle has Red color – the indicator confirms consistent fall of highs and lows of the price. There are good reasons to place Sell Stop orders on low of the first candle having such color.
• A formed candle has Gray color – the indicator shows that the trend is weak. If you have an open position, it makes sense to place Stop Loss orders on the High/Low of the first candle having such color.

The indicator does not redraw.