The Streak indicator is a measure of a consecutive series of candles of the same direction (green or red).

Serie of candles

SMA Series

Instead of relying solely on the price, this trigger takes into account the simple moving average (SMA) of the chosen period. This approach results in longer streaks as the SMA smooths out fluctuations. Furthermore, it helps to eliminate the "noise" caused by isolated upward candles that disrupt a series of downward candles.

Notes :

  • When using the streak indicator, we recommend you to apply a volatility filter (can be done through ATR indicator), candles streaks can be extremely different in low and high volatility time.

  • You can use this indicator as a trend analyzer. To increase the reliability of streak indicators, consider using additional confirmation signals such as VWAP, EMA or even momentum indicators. This will help to validate potential trading opportunities after getting the correct trend.

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