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Views:: 4843
Rating:: (18)
Published:: 2015.04.08 15:43
Updated:: 2016.11.22 07:32

simplescalp_mtf.mq5 (8.07 KB) view

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Original author:

kontra

A semaphore indicator of a directional trend. Buy and sell signals appear when all candles are bullish or bearish on 4 timeframes set in the input parameters of the indicator and its chart.

When using this indicator keep in mind that it can work only on timeframes less than 3 timeframes set in the Expert Advisor input parameters:

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input ENUM_TIMEFRAMES TimeFrame1=PERIOD_H1;  // Chart 1 period
input ENUM_TIMEFRAMES TimeFrame2=PERIOD_M30; // Chart 2 period
input ENUM_TIMEFRAMES TimeFrame3=PERIOD_M15; // Chart 3 period

Originally this indicator has been written in MQL4 and was first published in the Code Base on 16.02.2012.

Fig. 1. The SimpleScalp_MTF indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/12526

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SimpleScalp_MTF - indicator for MetaTrader 5