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Indicators

Directional_Breakout - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português

Views:
1676
Rating:
votes: 7
Published:
2018.07.09 12:54

Informational indicator. It displays a histogram in different colors, depending on the ratio between the candlestick prices and the moving average.

There are three adjustable parameters:

  • MA Period - MA calculation period;
  • MA Method - Moving Average calculation method;
  • Applied price - price used for calculations.

Calculation:

If Low > MA:
MA > PrevMA = color 1
MA < PrevMA = color 2
If High < MA:
MA < PrevMA = color 3
MA > PrevMA = color 4
Otherwise = color 5

where:

MA is the moving average with the Period, by Method, and at Applied price
PrevMA - moving average on the previous bar

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/21036

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