Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2015.07.20 09:58

Bounce Strength Indicator 2.0 with Tango Line - indicator for MetaTrader 4

| English Español Português Русский Deutsch 日本語

votes: 17

Bounce Strength Indicator (BSI) shows the strength of bounce. It now works in trend and uses Tango Line calculations.

There is no difference in the basic concept, but I tried to remake it from a different angle.

I used the width of the range as a measure to measure (like a classical oscillator). This version does not use the width of the range. It uses the deviation from the center line instead. And the center line is the moving average of the Tango Line.

double ratio=0;
 //--- Bar Spread
 double sp=(high[k]-low[k]);
 //--- Not DownBar
 //--- Not UpBar


  • Plus histogram — shows the bounce strength up from lows.
  • Minus histogram — shows the bounce strength down from highs.
  • Signal line — difference between plus/minus [ (plus - minus) * abs((plus-minus) / (plus+minus)) ].
  • Blue box — uptrend strength (average of Signal line).
  • Red box — downtrend strength (average of Signal line).
  • Slow Line — average of Signal line (long span).
Chart window is Tango Line (version 1.1).

Bounce Strength Indicator v2.0


Bounce Strength Indicator v2.0 trend


//--- input parameters
input int InpRangePeriod=20;            // Range Period
input int InpSlowing=3;                 // Slowing
input int InpAvgPeriod=14;              // Avg Period
input bool InpUsingVolumeWeight=true;   // Using TickVolume
input double InpReversalNoiseFilter=5;  // Noise Filter
input  color InpSigColor=DarkSlateBlue; // Signal Color
input  color InpSlowColor=Navy;         // Slow Color

Input Parameters

Tango Line Tango Line

This indicator is a sharp turn to the dynamic change of direction. Like tango steps!

SpreadMIN SpreadMIN

The indicator is a histogram of the lowest/minimum spread only, given in a candle whilst the indicator has been running. Example scripts for placing buy or sell at the lowest spread are included.

Hull Moving Average Hull Moving Average

The Hull Moving Average (HMA) is an extremely fast and smooth Moving Average that almost eliminates lag altogether and manages to improve smoothing at the same time.

News Hour Trade News Hour Trade

Expert Advisor I have developed for News Time Trading (set time and leave it).