The Candle Power indicator is a powerful tool for measuring the strength of candles based on the average strength of previous candles and comparing it with the most recent ones. Using this, market conditions can be assessed to determine whether the market is volatile or not. Additionally, by comparing it with the RSI, confirmation signals can be obtained. With this indicator, you can easily identify whether the market has the strength to break a resistance or support level. The use of this indicator has proven effective in automated trading bots.
Calculate the average power of candles and identify market strengths and weaknesses with precision.
DR.KHASHIX CandlePower Indicator calculates the current candle’s height relative to the average candle height over a specific period, helping traders analyze market strength and weakness efficiently. Ideal for both manual analysis and algorithmic trading, this indicator provides a clear view of market dynamics..
The DR.KHASHIX CandlePower Indicator calculates the average power of candles and displays it on the chart. Candle power refers to the current candle’s height relative to the average candle height over a specific period. This indicator can help you identify strengths and weaknesses in the market trend.
Candle Power: Value at each chart point shows the strength of the current candle. Higher values indicate stronger candles, while lower values suggest weaker candles. label Displayed as decimal numbers for precise analysis and decision-making.
Predict order block breaks and RSI signals using CandlePower for strategic entry points.
Integrate this indicator into trading robots for enhanced decision-making and automated strategies.
Use this indicator alongside other tools for comprehensive market analysis. Effectiveness depends on experience, analysis skills, and understanding of market conditions.
Experience accurate candle power calculations and optimize your market analysis. Combine CandlePower with your trading strategies for smarter, data-driven decisions.
| Period Reference | The total number of candles it examines. |
|---|---|
| Period To Check | Number of last candles compared to Period Reference |
| Static Line Value | Static lines 1, 2, and 3 |
| Static Line Color | Candlestick and RSI strength line colors |
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