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TriggerLines - indicator for MetaTrader 5
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The TriggerLines trend indicator draws two moving average lines colored in accordance with the trend direction:
- Up - green;
- Down - red.
The indicator has three input parameters:
- Period - calculation period (line 1);
- Smoothing - smoothing period (line 2);
- Applied price - price used for the calculation of the two lines.
Calculations:
WT = 6.0 * sum / K Signal = EMA(WT, Smoothing)
where:
sum = sum of (LV * Applied price) over the Period range LV = (Period+1)/3 K = Period * (Period+1)
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21698
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