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Showing posts with the label exponential

2 MA Candlesticks

The 2MA Candlesticks is an indicator that paints the candlesticks on the chart depending on the intersection between two given moving averages (exponential, simple etc) that can be defined by the trader. In the example below, we've attached to the chart two moving averages that we use to determine the price movements. These are the 30 EMA and the 55 EMA.
They can be used in a multitude of ways, however they do take space on the chart and the candlesticks look the same. Many traders find the often change in color distracting. To avoid this issue, we've attached the 2MA Candlesticks indicator on the chart and removed the two moving averages. Of course, the settings for the 2MA Candlesticks indicator are the same as the 2 moving averages (30 ema and 55 ema).
Notice how the chart became much clear and the price action way more obvious. We got rid not only of the 2 MA occupying visual space, but also the original candlesticks colors.
You can download this Metatrader indicator free …