Watch how to download trading robots for free

Find us on Facebook!
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:: 5170
Rating:: (29)
Published:: 2015.01.23 10:42
Updated:: 2016.11.22 07:32

tail_bar.mq5 (4.81 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:

Inkov Evgeni

As we know, stars give evidence of the beginning of price reversal. But a candle with asymmetric "tails" can appear instead of a star, which is also an evidence of a fight between "bulls" and "bears".

This indicator shows this difference. If the low tail is bigger the high one, a bar on the histogram will be above the zero line. If the low tail is longer the bar will be at the bottom. Bar amplitude is a difference between tails. The bigger the difference is, the bigger the sign of a reversal and end of a trend. The more vivid sign is appearance of several bars having one direction and large amplitude at a time!

This indicator was first implemented in MQL4 and published in CodeBase on March 31, 2014.

Fig.1. Tail_Bar Indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/11248

TSI_WPR_HTF

The TSI_WPR indicator with the timeframe selection option available in input parameters.

Karpenko_HTF

The Karpenko indicator with the timeframe selection option available in input parameters.

TSI_DeMarker

A TSI oscillator based on the values of the DeMarker technical indicator, implemented with its own signal line in the form of a colored cloud.

TSI_DeMarker_HTF

The TSI_DeMarker indicator with the timeframe selection option available in input parameters.

Tail_Bar - indicator for MetaTrader 5