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Indicators

Color_PEMA_Envelopes_Digit_System - indicator for MetaTrader 5

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Views:
675
Rating:
votes: 17
Published:
2017.08.10 12:53

The indicator implements a breakthrough system using the Color_PEMA_Envelopes_Digit channel.

When price exits the gray channel, the candlestick color changes to the color corresponding to trend direction. Aquamarine is used for the growth of a financial asset, yellow color means fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.

The indicator uses the SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The detailed description of the classes is available in the article Averaging Price Series for Intermediate Calculations Without Using Additional Buffers.

Fig. 1. Color_PEMA_Envelopes_Digit_System

Fig. 1. Color_PEMA_Envelopes_Digit_System

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18656

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