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Published:

2017.08.10 10:54

i4_GoldenLionTrend_v3.mq5 (15.84 KB) view

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Real author: goldenlion@ukr.net

A trend strength indicator using two Bollinger channels. When the price moves beyond the borders of the second (larger) channel, the color of the bars becomes brighter. When the price moves beyond the borders of the first (smaller) channel, the color of the bars becomes darker. When the price is inside the smaller channel, there are no colored bars.

Originally this indicator was written in MQL4 and was first published in the Code Base on 28.01.2006.

Fig. 1. The i4_GoldenLionTrend_v3 indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/18451

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i4_GoldenLionTrend_v3 - indicator for MetaTrader 5