MQL5 - Language of trade strategies built-in the MetaTrader 5 client terminal

Source code library - Expert Advisors, Indicators and Scripts

MQL5 Documentation is the Developer's Bible!
To post a new code, please log in or register

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2011.04.14 07:57
Buy / sell indicator with alerts.

Buy / sell indicator with alerts. - indicator for MetaTrader 4

| English Spanish Portuguese

Views:
51202
Rating:
votes: 5

This is the updated version of the indicator i uploaded previously at http://codebase.mql4.com/en/code/9976.

The basic logic is

It calculates number of bars on charts and then based on histogram it draws a arrow which is again confirmed when next opening bar price its high in case of buy arrow or low in case of sell signal, when both these conditions are satisfied it draws an arrow.

it is price behavior change It means if arrow has appeared price will change it direction a five bars sequence, where the central bar has higher maximum or lower minimum arrow shows central bar position.

Sound pop-up alert as well email alert have been added to it.

Recommended timeframe 1 hr.