Theory:
Years ago, we introduced the Kalman filter concept (you might also want to check this out: Kalman filter - a version for MT4). We've kept the name but enhanced it to support multi-timeframe analysis. This version includes three additional timeframes beyond the standard ones available in MetaTrader 5:
- First Higher Timeframe: The first timeframe that’s higher than your current chart timeframe.
- Second Higher Timeframe: The second timeframe that’s higher than your current chart timeframe.
- Third Higher Timeframe: The third timeframe that’s higher than your current chart timeframe.
We've also added a feature that displays colored bars or candles, making it easier for you to gauge the trend at a glance. The display adjusts automatically based on your current chart settings:
- If your chart is set to display candles, you’ll see colored candles.
- If your chart is set to display bars or lines, colored bars will be used.
Note: The color of the indicator isn't determined by its slope, but rather by an internal "velocity" calculated during the process of indicator computation.
Usage:
You can use the color changes as trading signals to help inform your decisions.
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