If you're trading on MetaTrader 4, you might want to check out the Movment indicator. This handy tool uses color-coded bars to visually represent price movement, making it easier to see trends at a glance.
The indicator displays bars in two primary colors: red indicates an upward price movement, while blue signifies a downward trend. The direction of these movements is determined by the number of points you set in the 'Points' variable.
Now, here's where it gets interesting! When there's a reversal in price direction, the saturation of the color will decrease based on the rollback value. This feature helps you gauge not just the direction of the movement but also the strength of that movement.
In addition to the main colors, the Movment indicator includes three gradations of color to give you a clearer picture of price rollbacks: 1/4, 1/2, and 3/4 of the 'Points' value. If the price rolls back to the full 'Points' value, that signals a shift in the direction of movement, and the indicator will change to the primary color of the opposite direction.
Movment Indicator
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