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2013.10.22 09:10
Indicators

Price_Channel_Trend - indicator for MetaTrader 5

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pctrend.mq5 (4.68 KB)view

Trend indicator, based on crossover of pivot level and its median.

Pivot Level is calculated by formula:

PL=(MAX+MIN+CLOSE)/3

where:

  • PL - Pivot level;
  • MAX - maximum price (n bars);
  • MIN - minimum price (n bars);
  • CLOSE - close price.

Price_Channel_Trend indicator

Price_Channel_Trend indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1909

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