Chuyên mục lưu trữ: Price Action

Bar Numbers

The Bar Numbers MT4 indicator prints a number to every candlestick or bar based on the current bar and the first bar available in the history. It provides two numbers to a forex candlestick or bar. The number above the candle shows the distance from the current candle. Alternately, the number printed below the candlestick shows the distance of this bar from the price history available on this chart.

The indicator prints the recent candle number on top of the candle in blue. Similarly, a gray number below the candle shows the number of candles based on the history.  Forex technical traders can use this consecutive numbering to identify candlestick patterns. Additionally, for clarification the number above the candles are in ascending orders, while the ones below are in descending order.

The indicator works well in all intraday chart time frames as well as the daily, weekly and monthly charts. It is useful for short and long-term forex candlestick pattern traders and special indicators like Tom Demark and the Japanese Ichimoku to name a few.

The numbering of the candlestick or bars on the price chart helps multiple types of forex technical traders. In particular, traders using bullish or bearish patterns like three white soldiers, the black crows, morning star, and evening star will benefit from this indicator.

However, the forex technical analysis using De Mark indicators like TD Sequential, TD Combo and other range of Tom Demark indicators use the numbering extensively. Similarly, the Japanese Ichimoku indicator also uses the 9th and 26th candles to predict market trend reversals. So, traders can use this indicator to identify the candles by numbers for both Ichimoku and TD. It helps for technical analysis or trend reversal identification.

The indicator does not provide any user input settings except the color.


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