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Turn Area - indicator for MetaTrader 4

2016.03.07 11:42
Turn_Area.mq4 (2.86 KB) view
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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 Ltd.
Original code:

ChannelsFIBO_v2_MTF ChannelsFIBO_v2_MTF

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