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2016.04.13 15:22

ForexLine - indicator for MetaTrader 5

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votes: 11
forexline.mq5 (9.86 KB)view

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A trend indicator in the form of a moving average that changes color depending on trend direction. The trend direction is determined using a relative position of two smoothed averages, one of which is fast and the other one is slow.

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".

The indicator has originally been written in MQL4 and was first published in the Code Base on 04.01.2016.


Fig.1. The ForexLine indicator

Fig.1. The ForexLine indicator

Translated from Russian by MetaQuotes Software Corp.
Original code:

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