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Indicators

Elders Safe Zone - indicator for MetaTrader 5

Published by:
Vladimir Karputov
Views:
6022
Rating:
(17)
Published:
2018.04.18 16:17
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The author of the ideaScriptor, the author of the MQL5 code: barabashkakvn.

The indicator shows the so-called safe zone, which is calculated using the High, Low and Close prices, and the Moving Average indicator.

Elders Safe Zone

It is recommended to perform trades when the indicator is positioned horizontally:

  • If the price is above the horizontal segment of the indicator, open a BUY position;
  • If the price is below the horizontal segment of the indicator, open a SELL position.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20009

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Bollinger Bands in the form of an oscillator.