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Views:: 3874
Rating:: (8)
Published:: 2018.07.13 15:22

WAAB.mq5 (10.81 KB) view

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Indicator WAAB (Waddah Attar ADXxBollinger) is intended for identifying the direction and strength of the current trend. For this pupose, a combination of the signals from two indicators is used: Advanced_ADX and Bollinger Bands.

The indicator is made as a histogram, the columns of which are green when the prices grow. Red color means falling. The larger the columns (of any color) are, the stronger the trend is.

It has three configurable parameters:

ADX Period - ADX calculation period;
BB Period - Bollinger Bands calculation period;
BB Applied price - applied price for Bollinger Bands.

Calculations:

WAAB = (TL-BL) * ADX

where:

TL, BL - the upper and the lower bands of indicator Bollinger Bands
DIP, DIM - +DI and -DI of indicator ADX

If DIP > DIM, then the histogram is green.
If DIP < DIM, then the histogram is red.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21170

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The VFO (Volume Flow Oscillator) values above zero are bullish and indicate accumulating, while those below zero indicate distributing. Divergences between the price and the indicator values may indicate a forthcoming change in the trend.

UDP

Indicator UDP (Up/Down Percentage) displays the direction of candlesticks, i.e., up/down, as a percentage over the selected period.

XMA

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ZPF

ZPF (Zero Point Force) - zero point force indicator. It displays the market climate.

WAAB - indicator for MetaTrader 5