Watch how to download trading robots for free

Find us on Twitter!
Join our fan page

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Views:: 3820
Rating:: (13)
Published:: 2018.06.18 16:22

Wiseman.mq5 (10.49 KB) view

Download as ZIP, How to download code from MetaEditor

: Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

Real author: Pavel Kulko

Wiseman is an indicator basically aimed at showing the candlestick, on which the trend has changed its direction.

If color is pink, then the trend has changed for bearish; if it is green, then it has changed for bullish. A green bar is formed at the moment when the current High is above the preceding one and the price has closed below the middle of the candlestick range (High + Low) /2.

Similarly, a pink bar appears where the current Low is below the preceding one, while the close price is above the middle of the candlestick range.

The indicator is based on ideas of Bill Williams in one of his books. It is for reference only. Trading by this indicator only would not be profitable. It may be used as a signal indicator for a trend strategy.

Fig.1. Indicator Wiseman

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20917

Kalman_Filter

Indicator Kalman Filter. It allows efficiently smoothing the noise, extracting the main trend from it.

HL_StdDev

The oscillator shows standard deviation calculated on the difference between the High and the Low.

Rainbow_Volume

A colored tick-volume indicator.

Range_Histogram

A candlestick size indicator.

Wiseman - indicator for MetaTrader 5