Trading indicator Elders's Market Thermometer MTF TT is a so–called "market thermometer", the author of which is well-known in stock exchange circles Alexander Elder. This filter for quotes has been optimized and upgraded by Tank, a popular author of profitable indicators on the traders' forum.
The Elders' Market Thermometer MTF TT trading indicator measures (modulo) each candle (High-Low range), then performs additional transformations, after which it displays the result on the chart.
In addition to the bars themselves, the volatility indicator of currency pairs provides two lines – solid and dotted. The first of them is calculated by averaging the values of the base histogram for the period "EMALength", and the second is determined by multiplying the previously obtained value by the coefficient "EMAKoef2".
What is the forex indicator Elders's Market Thermometer MTF TT for?
Using the Elders' Market Thermometer MTF TT indicator, you can estimate the "temperature" of the market, that is, find key points near which the price behaves predictably.
One of these states is yellow by default. If similar bars appear on the volatility indicator of currency pairs, this is a sure sign that the market is ready to start a powerful movement.
In other words, the spring principle works here – a lull period is followed by a strong surge, so the trading volatility indicator Elders's Market Thermometer MTF TT is great for both timely exit from the previous trend and for preparing for a new movement.
Details and settings are described in the instructions
https://mega.nz/file/G5FQVKgb#0kUJrnmGZFqNujsRQfeema0BuUrNqxC1oklsQ8ETkis
The Elders' Market Thermometer MTF TT trading indicator measures (modulo) each candle (High-Low range), then performs additional transformations, after which it displays the result on the chart.
In addition to the bars themselves, the volatility indicator of currency pairs provides two lines – solid and dotted. The first of them is calculated by averaging the values of the base histogram for the period "EMALength", and the second is determined by multiplying the previously obtained value by the coefficient "EMAKoef2".
What is the forex indicator Elders's Market Thermometer MTF TT for?
Using the Elders' Market Thermometer MTF TT indicator, you can estimate the "temperature" of the market, that is, find key points near which the price behaves predictably.
One of these states is yellow by default. If similar bars appear on the volatility indicator of currency pairs, this is a sure sign that the market is ready to start a powerful movement.
In other words, the spring principle works here – a lull period is followed by a strong surge, so the trading volatility indicator Elders's Market Thermometer MTF TT is great for both timely exit from the previous trend and for preparing for a new movement.
Details and settings are described in the instructions
https://mega.nz/file/G5FQVKgb#0kUJrnmGZFqNujsRQfeema0BuUrNqxC1oklsQ8ETkis
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