The Linear_Price_Bar indicator is a technical tool belonging to the Price Action indicator group. The main objective of this tool is a more understandable and affordable visualization of the price of a trading asset in the form of candles. In fact, it just duplicates the readings of the chart by building price candles around the center line in a separate window.
Linear Price Bar is a very standard oscillator, however, thanks to a new, more recent, and beautiful design, it makes your trading more understandable and simple. It is very convenient when trading in a strong news stream or in a strong trend phase. The indicator is universal and can be used on any timeframes and assets.
Price candles arranged in a row in a separate indicator window in the form of red (bearish) and blue (bullish) candles can be easily compared with each other, finding extremum values that can be used as signals indicating market impulses.
Signals of the Linear Price Bar initiator include all Price Action Candlestick patterns, which, thanks to this tool, are more readable and faster recognized.
In addition to Price Action patterns, this tool is also very useful in finding divergence in the market.
Also, using this indicator, it is easier and faster to count the number of bullish or bearish candles following each other in a row.
The Linear_Price_Bar indicator is a fairly simple and straightforward tool, which nevertheless gives you the opportunity to look at the price in a horizontal plane. It simply and clearly demonstrates the true size of candles in comparison with the previous ones, which is useful when searching for impulses in the market. Strategies using this indicator can be found in the Strategies section of our website.
Download the Linear Price Bar Indicator for MT4 from the button below
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.