Indicator Tabajara from the brazilian trader André Machado. Simple version with moving averages SMA 20 and SMA 200. If fast moving average (20) is ascending, positive candles will receive green color. Descending fast moving average (20) makes negative candles receive red color. In other cases the candles will be gray (positive) and black (negative). The slow moving average (SMA 200) shows the primary trend. It´s also possible using the indicator with exponential moving averages.
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Indicator Tabajara from the brazilian trader André Machado. Simple version with moving averages SMA 20 and SMA 200. If fast moving average (20) is ascending, positive candles will receive green color. Descending fast moving average (20) makes negative candles receive red color. Otherwise candles will be gray (positive) and black (negative). The slow moving average ( SMA 200) shows the primary trend. It´s also possible using the indicator with exponential moving averages.