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- 22007
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- Published:
- 2010.01.26 11:05
- Updated:
- 2016.11.22 07:32
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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).
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 Ltd.
Original code: https://www.mql5.com/ru/code/17
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