The AFL_WinnerV2 indicator identifies a trend change by established turnover areas at -50/+50 levels. In this version, the following input parameters:
input int HighLevel=+40; // overbought level input int LowLevel=-40; // oversold level
provide the ability to highlight the indicator entries into the overbought and oversold areas with color. Pale histogram tones are simply a rise or fall, bright tones show a rise or fall and an entry or exit.
The indicator uses the classes of SmoothAlgorithms.mqh library (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".
Fig.1. The AFL_WinnerV2 indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16145
This indicator is a hybrid of the SATL (Slow Adaptive Trend Line) digital filter and the JMA analog adaptive averaging.STLMCandle
The STLM digital filter implemented as a sequence of candlesticks.