The Magneto Precision Trend indicator is based on candlestick analysis. It determines the trend change on the previous candle, signal is not redrawn.
Indicator setup and use
Increasing the Period parameter decreases the indicator sensitivity, resulting in less frequent changes in color but filtering the market noise. However, the trend change signals will arrive visually with a delay. And, conversely, decreasing the value of Period provides more accurate but more frequently changing signals. Therefore, it makes sense to use one or more of these indicators with different settings on the chart.
Parameters
- Bars - the number of candles used to display the indicator.
- Period - calculation period.
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