A traditional Japanese chart style that gives a visually clear indicator of market direction and trend strength across all time frames.
The Kagi Charts are supposed to appear in 70s of the 20th century, at the first stage of Japanese stock market development. The Kagi Charts represent a series of interconnected vertical lines. The thickness and increment direction of these lines are determined by the price dynamics. The Kagi Charts do not consider the time.
If price move on in the same direction, the vertical line in the chart becomes longer. If the price turns by a pre-defined value (reverse coefficient), a new vertical line in a new column will be drawn in the chart. The thickness of Kagi lines changes when prices exceed their previous maximum/minimum values.
The Kagi Charts became known in the USA due to Steve Nison’s book named “Beyond Candlesticks”.
The Kagi Charts illustrate how demand-and-supply forces act. A sequence of thick lines speaks for that the demand is above supply (the market grows).
A sequence of thin lines means that the supply is above demand (the market drops). Interchange of thick and thin lines speaks for that the market is balanced (supply is equal to demand).
The basic trade signal on a Kagi chart is the line thickness: If a thin line becomes thick, you should buy, if vice versa, you should sell.
A sequence of increasing maximums and minimums speaks for the power of the ascending movement, decreasing maximums and minimums speak for the weak market.
Porog – reversing coefficient in percents
MT4 Indicators – Download Instructions
[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on [post-title].mq4
- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: