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Published:

2018.09.27 15:24

YABSI.mq5 (10.72 KB) view

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A signal indicator YABSI. It shows Buy and Sell labels on the price chart.

It has one parameter:

Show price typical - display of the typical price line, based on which the calculation is performed, Yes/No.

Calculations:

if (Close[1] < High and PriceTypical[2] < Close[1]) or PriceTypical[3] < Close[1]: a Sell signal.
If (Close[1] > Low and PriceTypical[2] > Close[1]) or PriceTypical[3] > Close[1]: a Buy signal.

Note that in order to avoid false entries, signals should be filtered using direction indicators, oscillators and overbought/oversold zones or support/resistance levels.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21686

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YABSI - indicator for MetaTrader 5