TTF Candles AM

The presented indicator is an original development based on the TTF (Trend Trigger Factors) indicator.

The indicator colors the price chart candles according to the TTF indicator data and its smoothed value (Signal line).

The indicator does not repaint.

The following thesis is used:

• The intersection of the TTF oscillator with the zero value is a buy/sell signal.
• The intersection of the TTF oscillator with its smoothed value is a signal of a change in trend.

Thus:

• If the TTF indicator is greater than zero and greater than its smoothed value, the candle is colored in the colors of the uptrend.
• If the TTF indicator is less than zero and less than its smoothed value, the candle is colored in the colors of the downtrend.
• Otherwise, the price chart candle is colored in the colors of the sideways trend.

Use rules:

• The first candle colored in the colors of the uptrend is a signal to buy and set stop orders for open sell positions.
• The first candle painted in the colors of the downtrend is a signal to sell and set stop orders for open buy positions.
• The first candle painted in the colors of the sideways trend is a signal to set stop orders for all types of open positions.
• The signal is confirmed when the price crosses the maximum/minimum of the bar on which the signal was given.

Configurable indicator parameters:

• Indicator_Period - period for calculating the TTF indicator;
• Shift_Signal_Line - shift of the signal line relative to the TTF indicator;
• Method_Signal_Line - method of smoothing the signal line;
• Period_Signal_Line - period of smoothing the signal line.