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Market Thermometer Jr

Find the Right Edition That Fits You
Scalperology Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
30-Day Profit: 270.38%
7-Day Profit: 254.8%
Support: 24ั…7 via Telegram
Get EA๐Ÿ†
Breakopedia Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
XAU/USD
XAG/USD
XBT/USD
30-Day Profit: 50.65%
7-Day Profit: 38.84%
Support: Developer
Download EA๐Ÿš€

What is Market Thermometer Jr

  • The Market Thermometer Jr is a unique trading indicator designed for the MetaTrader 5 platform.
  • Its main purpose is to help traders identify whether market conditions are turbulent or calm.
  • It's particularly beneficial for beginners as it guides them on when to enter trades based on market temperature.

    • How It Works

  • The thermometer measures the price movement extent at the end of a period relative to the previous period's range.
  • It indicates a peaceful market when its value is below the average of multiple periods.
  • Conversely, a "heated" market occurs when the thermometer exceeds three times its average value, signaling profit-taking opportunities.

    • Visual Representation

  • The Market Thermometer Jr utilizes color coding for easy interpretation:
  • Red: Thermometer's value is below average.
  • Green: Thermometer's value is above average.
  • Black: When the value exceeds three times the average, signaling significant market activity.
  • This color system makes it visually intuitive for traders to gauge market conditions quickly. ๐Ÿšฆ

    • Input Parameters

  • The indicator comes equipped with several customizable parameters:
  • Arithmetic Average of the Thermometer (standard: 22).
  • Percentage above the average for enabling the black candle feature (standard: 200%).
  • Average Volume settings to adjust sensitivity to trading activity.

    • User Experience and Ratings

  • The Market Thermometer Jr has received positive feedback with a user rating of 5.0 based on multiple reviews.
  • Many users claim it has enhanced their trading strategy significantly.
  • Traders appreciate how easy it is to integrate into their existing MetaTrader 5 setups and how it complements other tools for a comprehensive trading approach. ๐Ÿ‘
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