If you're looking to spice up your trading experience, the iMovment indicator for MetaTrader 5 is here to help! This nifty tool visualizes candles in different colors based on the trend direction and price movements, making it easier for you to spot opportunities.
The iMovment indicator smoothly changes color whenever the price retracement from the maximum or minimum is less than the set Movment parameter. This means you'll get a clear visual cue to help you gauge the market's momentum.
When the retracement value equals or exceeds the Movment parameter, the indicator signals a potential trend change by transitioning its color smoothly until the next retracement occurs.
Parameters:
- Movment - This is the price movement in points that you consider necessary for a trend change;
- UpColor - The color you want for upward trend candles;
- UpBackColor - The color for "retracement" candles during an upward trend;
- DnColor - The color for downward trend candles;
- DnBackColor - The color for "retracement" candles during a downward trend;
- Auto5Digits - This feature automatically multiplies the Movment parameter by 10 for 5- and 3-digit quotes.
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