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Instrument: REA_Structure

REA_Structure

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Disclaimer

The graphic studies and any other indication generated by the software should not be considered as personalized investment advice or even as investment recommendations. The setups generated by the software search for market conditions developed on prices in the past and are useful for statistical purposes.

The software is not able to work autonomously and requires various inputs from the trader for pattern research, statistics processing and any other expected functionality.

Description

The indicator REA_Structure draw the continuous structure of the market on the graph, using an average of the highs and lows multiplied by the ATR to create the colored channel. The latter changes color every time a pullback occurs with the total number of candles entered in the parameters and the upper and lower lines are exchanged. When the channel is green and the upper line is green then the structure is bullish, on the contrary if the channel is red and the red line is above then the structure is bearish.

 

Parameters

  • ATR Period: Set the ATR periods.
  • ATR Multiplier: Enter a multiplier value to increase the distance of the lower and upper bands.
  • ATR MA type: Select the Moving Average time for ATR calculation.
  • Min PullBack: Enter the minimum number of candles to count to consider the pullback.
  • Colorize Bars: Activate or deactivate the candle color change with Yes or No.

Lines

  • Select the color for each line drawn in the chart.

Downloads

License:
FREE

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