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Views:: 13146
Rating:: (40)
Published:: 2015.01.23 11:23
Updated:: 2016.11.22 07:32

FractalsTrendLines.mq5 (7.38 KB) view

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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:

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

Triangle