The indicator represents the conventional bars of the trading session. The difference between the classical Japanese candles, and this indicator is that the indicator VIP_HeikenAshi takes to build the price bars and averages them, making a smoother session. This is very important because the currency market is more volatile than other markets.
VIP_HeikenAshi is slower than the candlestick, as signals are output from
delay and protects us from false entries into the market.
- Red candles with shadows. The downward trend is beginning to weaken. Possible closure of existing short positions.
- Red candle without shadow. The strong downward trend, the likelihood of the continuation of strong high. It can be added to an existing position.
- Blue candles without shadows. A strong bullish trend, which, with high probability, may continue.
- Candles with large long shadows and small body. In fact, it resembles a doji formation, which symbolizes the trend of fatigue and subsequent reversal. But we need to wait for confirmation signal
- Blue candle with small shadow. It continues the bullish uptrend. Still present potential for upward movement.
Due to the delay, VIP_HeikenAshi indicator gives a smaller number of false alarms, which does not allow you to trade against the market. On the other hand, this indicator is easier to read, because unlike the candlestick he has not confusing different formations and formations.
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