Real author: Aleksey Terentyev
This is an implementation of the market cycle indicator described by Raghee Horner.
"Wave is a simple market cycle indicator: a trio of exponential moving averages based on the Fibonacci number of 34. It provides me with a visual footprint of the market's trend, or lack of trend. It's better than trendlines, support and resistance for this specific purpose. It's not that trendlines, support and resistance are not effective but the fact is that these lines can be found in uptrending, downtrending, and sideways or range-bound markets, and by themselves they do not indicate the market's cycle."
An excerpt from the book by R. Horner "Forex on Five Hours a Week: How to Make Money Trading on Your Own Time"
The indicator principle is simple:
Signals are confirmed when three candles of the same color appear.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 30.05.2017.
Fig. 1. The MASi_WaveHist indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/18957
A trading system based on the Stopreversal indicator signals.Zigzag2_R_channel_System
The indicator implements a breakout system using the Zigzag2_R_channel indicator channel, as well as generates alerts, sends push and email notifications when the price breaks the channel drawn through the zigzag peaks.