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You liked the script? Try it in the MetaTrader 5 terminal
UpDownBars - indicator for MetaTrader 4
- Views:
- 23572
- Rating:
- Published:
- 2011.12.28 07:33
- Updated:
- 2016.11.22 07:32
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The indicator counts the Up bars (Close-Open) and Down bars (Open-Close).
Calculation:
n = Up bars (Close>Open, first bar=1, last bar=n)
m = Down bars (Close<Open)
Oscillator indicator, my opinion - use it for filtering of entry, when UpDownBars is above 0 go only short and when UpDownBars is below 0 go only long.
Inputs:
- UpDown_Period = 20 // period for calculation UpDown bar indicator
- Average_Period = 10 // period for calculation Moving Average on indicator
- Average_Method = Simple // method of Moving Average
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