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Indicators

FractalsTrendLines - indicator for MetaTrader 5

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5644
Rating:
votes: 32
Published:
2015.01.23 11:23
Updated:
2016.11.22 07:32

The indicator draws bull and bear lines of a trend on the basis of iFractals indicator's data from the nearest extremum to the last fractal broken down.

When this fractal is broken down, the line becomes permanent till a new extremum appears.

Input Parameters:

  • inpClrBull=clrGreen; Color of the trend's bull line;
  • inpClrBear=clrRed; Color of the trend's bear line.

This indicator can be interpreted as follows:

  1. "Pass-Through Cross" line crossing.
  2. Candle closing above both lines: "Bull Trend".
  3. Candle closing above both lines: "Bear Trend".
  4. Candle closing between the lines, "Pass-Through Cross" on the left side: "Flat".
  5. Candle closing between the lines, "Pass-Through Cross" on the left side: "Triangle of Uncertainty".

Triangle


Bull trend


Bear trend


Flat

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12189

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