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Indicators

Turn Area - indicator for MetaTrader 4

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9694
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votes: 13
Published:
2016.03.07 11:42
Turn_Area.mq4 (2.86 KB)view

The indicator displays the areas of the potential price reversals.

It is based on the moving average and RSI indicators, and shows their difference.

Description of the indicator settings:

  • EMA_Period — The averaging period for the calculation of the Moving Average indicator.
  • EMA_Method — Averaging method. Can be any of the enumeration values, SMA — simple averaging, EMA — exponential averaging, SMMA — smoothed averaging, LWMA — linearly weighted averaging.
  • EMA_Price — applied price. It can be one of the enumeration values. CLOSE — close price. OPEN — open price. HIGH — High price for the period. LOW — Low price for the period. MEDIAN — median price, (high+low)/2. TYPICAL — typical price, (high+low+close)/3. WEIGHTED — weighted close price, (high+low+close+close)/4.
  • RSI_Period — Averaging period for the RSI calculation.
  • PSI_Price — applied price. Similar to EMA_Price.

EURJPY chart, H1, 2016.01.23 07:12 UTC, InstaForex Group, MetaTrader 4, Demo

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14851

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