The TCCl indicator for MT4 is a custom indicator moving average that detects the market trend condition, potential reversals, and trend continuations of financial instruments. The indicator is very responsive to price changes and smoothing out the price to provide traders with accurate trend conditions of the financial market.
Features of the TCCl Indicator for MT4
The indicator is optimized with trend-following algorithms and smoothing features, which makes it less susceptible to lagging. Additionally, it is built with a dynamic line that alternates between green and red, which depicts the market trend direction. The green line suggests bullish movement, while red posits a bearish trend.
Furthermore, the indicator’s line can also be used to identify potential trend-reversal zones. So, in a bullish trend, for example, traders might anticipate a trend reversal if the indicator’s line turns red when the price is at a resistance zone.
Finally, the indicator’s line doubles as buy and sell signals for trade entries. A buy signal is generated when the indicator’s line turns green, while a sell is when it turns red.
Benefits of Using the Indicator
- Reduced False Signals: Unlike the traditional moving average, the TCCl indicator for MT4 filters out the market’s noises, which helps traders identify accurate trend conditions and potential reversal zones.
- Objective Analysis: The indicator can come in handy as a supporting tool that enhances objective analysis of the market.
Indicator Settings Description
The indicator comes with the following customizable settings:
Price: Defines the price data type (Open, Close, High, or low) for analysis.
Length: Determines the number of periods used for calculation.
Displace: Determines the indicator’s sensitivity to the price.
Filter: Defines the number of filter columns.
Color: Determines the color of the indicator’s line.
ColorBarBack: Determines the color mode of the indicator.
Deviation: Determines the deviation value for analysis.
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