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2012.12.12 13:13
Indicators

TrendPaint - indicator for MetaTrader 5

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trendpaint.mq5 (12.38 KB)view
\MQL5\Include\

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The TrendPaint indicator draws candlesticks depending on the trend direction. Growing candlesticks on the increasing market are drawn in lettuce green, falling candlesticks on the increasing market are green. Analogically falling candlesticks on the falling market are displayed by red color, the growing candlesticks are purple. The indicator is drawn on the basis of the analysis of a relative position of two Moving Averages of MA Rounding (fast and slow) on four bars.

This indicator was first implemented in MQL4 and published in Code Base on 11.02.2010.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging price series for intermediate calculations without using additional buffers".

Fig.1 The TrendPaint indicator.

Fig.1 TrendPaint

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1210

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