&8220;3CCC&8221; (Consecutive Candle Count) &8211; Simple Binary MT4 indicator. Easy for understanding signals. RED arrow = PUT Option / BLUE arrow = CALL Option
Price will always reverse its initial direction, either completely or for a short while before resuming its trend. This is the basic concept which the Consecutive Candle Count Indicator is based on Simply;
&8220;Price will not move in the same direction forever&8221;
Given that, it is also unlikely to see an endless number of same color consecutive candlesticks. An opposite candle is bound to appear after a number of same color consecutive candlesticks.
To illustrate this further; if there are 6 consecutive bullish candlesticks, there is a high probability that the7th candlestick will be bearish. This probability increases as we see a higher number of same color consecutive candlesticks; for instance, there is even a higher probability of a bearish candle after 10 consecutive bullish candlesticks.
11 consecutive candlesticks
The Consecutive Candle Count Indicator can be used to trade binary options since it can be used to predict the next candle direction. Simply, place an opposite trade once your set number of consecutive candles is reached. Again; the higher the number of consecutive candles you choose, the higher the win rate but fewer signals. Below are example trades using candle_count setting 5.
Example of Chart with Binary signals indicator
&8221; 3CCC&8221; indicator &8211; Binary Options Trade Examples
You can also use the Binary signals indicator &8220;Consecutive Candle Count&8221; to take reversal trades. This is preferably done on higher timeframes. When a signal appears, take a reversal trade lasting the entire next candle or use your preferred takeprofit and stoploss levels. Below is an example trade using the daily timeframe and a consecutive candle count of 6 i.e. after 6 consecutive days in the same direction, place a reversal trade on the 7th day.
Consecutive Candle Count Indicator Spot Forex Trade Example
Feel free to use the Consecutive Count Candle Indicator with your other reversal based strategies.
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