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2010.01.26 11:05
Indicators

BW-ZoneTrade - indicator for MetaTrader 5

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The idea of this indicator has been proposed by Bill Williams in his book "New Trading Dimensions: How to Profit from Chaos in Stocks, Bonds and Commodities".

It shows the "fourth dimension" of the market - it paints the bar charts with different colors (green, grey and red) depending on the current market momentum (1st derivative) and price acceleration (2nd derivative), which calculated by Awesome Oscillator (AO) и Accelerator Oscillator (AC).

Bill Williams-ZoneTrade indicator

BW-ZoneTrade indicator

Calculation:

  • if АС and АО are green, it means the green zone;
  • if АС and АО are red, it means the red zone;
  • if АС and АО have different colors, it means the grey zone.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/17

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