The indicator displays a price momentum for a symbol accompanied by Fibo retracement markup. Pink and blue lines are displayed on a chart, as well as Fibo retracement markup indicating a market entry direction. Sell if the price breaks through the lower line and buy if it pierces the upper one. The indicator works best on H1 and higher. Support/resistance lines are calculated as local extreme values per the number of bars defined by iPeriod input parameter.
input uint iPeriod=24; //price extremums searching period
The countdown for searching extreme values starts from the bar set in SignalBar.
input uint SignalBar=1; //bar index for searching extremums
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/15271
The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.Average Directional Movement Index (ADX)
The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.