Smooth Candle S: Four Moving Averages of OHLC Prices

Summary

Smooth Candle S is a chart indicator that plots four moving averages derived from the open, low, high, and close prices of each candlestick. It provides a way to smooth each component of the candle separately, allowing traders to view a filtered representation of price behavior rather than relying on raw OHLC values alone.

The document identifies the indicator as originally written in MQL4 and later presented for MetaTrader use with a supporting smoothing library. It refers readers to a separate explanation of the averaging classes and includes a figure reference, but gives no formula details, parameter settings, signal rules, market examples, or performance evaluation. As presented, it explains the indicator's construction at a high level; it does not establish how the four smoothed series should be interpreted or whether they offer an advantage in trading.

Key ideas

• The indicator computes four smoothed series from candle open, low, high, and close values.
• Its purpose is to present filtered versions of the four OHLC components.
• The implementation relies on a supporting smoothing library.
• The document offers no trading rules or empirical performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.