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Views:: 5066
Rating:: (9)
Published:: 2018.08.23 13:28

IdeaTrend.mq5 (10.79 KB) view

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IdeaTrend is meant for checking a trend defining idea.

The indicator has three input parameters:

Period - calculation period;
Method - calculation method;
Threshold - trend direction threshold.

Calculation:

Idea = (MAH - MAC) / (MAC - MAL)

where:

MAH = MA(High, Period, Method)
MAL = MA(Low, Period, Method)
MAC = MA(Close, Period, Method)

If the indicator histogram exceeds the Threshold line, the trend is considered downwards and the histogram columns are colored in red;
If the indicator histogram is below the Threshold line, the trend is considered upwards and the histogram columns are colored in green.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21528

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IdeaTrend - indicator for MetaTrader 5