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Sentiment_Indicator.mq5 (4.89 KB) view

for_brent.set (0.16 KB)

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This is a market sentiment indicator. It displays market sentiment — bullish or bearish.

It should be noted that when working with this indicator it is necessary to consider the current trend (e.g. by a technical analysis).

The Sentiment indicator

Attention: By default the indicator is configured to RTS futures. The attached parameters are for Brent, although they fit RTS as well.

Parameters:

Min. order volume — the required volume of limit orders.
Min. amount of orders — the required amount of limit orders.
Order volume difference — the required difference of the volume of limit orders, i.e. how many times the volume of SELL is greater than BUY and vice versa.
Order difference — the required difference of limit orders, i.e. how many times SELL orders are greater than BUY and vice versa.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/13976

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