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:: 4608
Rating:: (12)
Published:: 2018.10.25 15:29

Mogalef.mq5 (12.11 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

Mogalef Bands developed by Eric Lefort consist of three lines: central (theoretical middle of the trading corridor, i.e. weighted average price level, lower (the same, but at the lowest prices), and the upper line (built by the maximum prices). Thus, a trading corridor is formed.

The author believes that in most cases, the price tends to return back to the corridor after leaving it. Then it heads to the central line.

Unlike the author's calculation, the upper and lower lines of the corridor are calculated using the standard deviation.

The indicator has three input parameters:

Linear regression period - linear regression period for calculating the central line of the channel
Standard deviation period - standard deviation period for calculating extreme channel lines
Multiplier - multiplier for calculating the channel width

Calculation:

Central = LinearReg((Open+High+Low+(2*Close))/5)
Top Band = Central + Multiplier * Deviation
Bottom Band = Central - Multiplier * Deviation

where:

Deviation = StdDev(Close,Standard deviation period,SMA)

If Central < PrevTop && Central > PrevBottom

Top     = PrevTop
Central = PrevCentral
Bottom  = PrevBottom

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22089

Power_Measure

Power measure indicator

Pro_Go

Williams Pro-Go indicator

Sensitive

The Expert Advisor based on iMACD(). Displaying MACD values via Point().

Proffessor v3

Grid of pending orders. The EA applies iADX (Average Directional Movement Index, ADX) indicator.

Mogalef - indicator for MetaTrader 5