This indicator can be useful for arbitrageurs. The formula for the calculation of the indicator:
ln(C/O) = ln(C) - ln(O)
where C — is the Close, and the O — Open.
For more information about the logarithmic rate of return read the article "Market invariants, or why the trader needs logarithms":
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13021
The Slope Direction Line trend indicator, used by the Hammering EA from the Market section.Use MA to draw UpDown_Resistance
The indicator uses Move Average to draw the level line of up and down.
The script inserts the FXT-file of any custom chart, synthesized from real tick flow, into the strategy tester folder.i-DivergenceBar
The indicator points at the reverse bars based on the Profitunity system by Bill Williams excluding the angulation relative to the Alligator indicator mouth.