The indicator for determining the time when the pending orders should be placed, using the ColorMETRO_DeMarker oscillator. The thick pink and red lines define the border of the channel. The time, when the gray fast line of the ColorMETRO_DeMarker goes beyond the borders of this channel and goes back inside of it, is the most suitable time for placing pending orders.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
This indicator requires the compiled indicator file ColorMETRO_DeMarker.ex5. Place it in <terminal_data_folder>\MQL5\Indicators.
Figure 1. The VKW_Bands_Modify_DeMarker indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14511
The VKW_Bands_Modify with the timeframe selection option available in the input parameters.METRO_DeMarker_Sign
Semaphore signal indicator based on the METRO_DeMarker indicator cloud color change algorithm.