Watch how to download trading robots for free

Find us on Telegram!
Join our fan page

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

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

Views:: 9624
Rating:: (21)
Published:: 2012.11.01 15:49
Updated:: 2016.11.22 07:32

nh_nl.mq5 (9.89 KB) view

Download as ZIP, How to download code from MetaEditor

: Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

Real Author:

LenIFCHIK

The New Highs-New Lows Index was very well described by A. Edler in his book "Trading for a Living: Psychology, Trading Tactics, Money Management " in the chapter dealing with Stock Market Indicators.

In our case, the indicator has been adapted to the foreign exchange market and is calculated as the difference between the number of currency pairs that reached new highs over a given period and the number of currency pairs that reached new lows over a given period. The peak is, as a rule, a sign of a forthcoming reversal.

This indicator was originally developed in MQL4 and published in Code Base at mql4.com 01.04.2011.

Fig.1 The NH_NL Indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/1051

Color ZigZag

Multicolor modification of Fast ZigZag.

Fast Trading Panel

Fast Trading Panel - the panel for fast trading

ColorRVI_HTF

The classic version of the RVI indicator (Relative Vigor Index) that can be arranged so that the time frame of the indicator is fixed at a value different from the chart time frame. The indicator is displayed as a cloud.

MultiLineMovingAverage

The MultiLineMovingAverage indicator shows levels of six moving averages for different time frames in the active chart window.

New Highs-New Lows Index - indicator for MetaTrader 5