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Views:: 10886
Rating:: (24)
Published:: 2011.08.08 18:00
Updated:: 2016.11.22 07:32

coeffofline_true.mq5 (4.54 KB) view

colorcoeffofline_true.mq5 (5.75 KB) view

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Real author:

Ramdass - Conversion only

CoeffofLine indicator shows the most likely future price direction (2-3 bars).

The indicator depends on symbol, timeframe and period. If the indicator is turned up, it's a signal to open long position. A signal to close long position is: turn down of the indicator and a confirmation from lower timerframe (negative values). The similar rules for short position: turn down on the current timeframe, for closing of short position it needs a confirmation from lower timeframe (positive values).

The indicator has been published in Code Base at mql4.com 11.08.2006.

CoeffofLine indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/410

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CoeffofLine - indicator for MetaTrader 5