The purpose of this MetaTrader indicator is to simply paint the candles based on the price position in regards to a moving average defined by the trader.
In the image above, instead of dragging on the chart the 55 EMA, we are using this indicator to simply change the color of the candles, therefore eliminating the EMA and clearing the chart. This allows for a better observation of the price action.
The indicator settings are very simple, traders can choose the type and length of the moving average they usually base their strategy on, and also change the width and colors to suit their trading chart.
Depending on its settings, the indicator can be successful used to either detect the trend, spot the entries/exits or both.
Free download Single Moving Average Candles.
Cassandra Simmons (verified owner) –
Single Moving Average Candles is an indicator that shows the trend and strength based on one moving average. It uses colored and sized candles to show if the market is up, down, or flat. It also shows the best entry and exit points, and the stop loss and take profit levels.
I use Single Moving Average Candles for a few months and I am very happy with it. It is simple and clear, and it helps me to find the best trades in any market. It has improved my accuracy and profit a lot, and I highly suggest it to anyone who wants a reliable and effective tool. Single Moving Average Candles is one of the best indicators ever.