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Published:

25 October 2018, 18:18

Extreme_TMA_line_indicator.mq5 (12.74 KB) view

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Extreme TMA Line is a well-known channel indicator included into multiple Extreme TMA strategies.

There are five inputs:

TMA period - TMA calculation period
ATR period - ATR calculation period
ATR multiplier - channel width ratio
Trend threshold - trend type switch threshold
Redraw - recalculation for compensating the indicator redrawing (Yes/No)

The indicator draws three lines: central (colored) and two channel ones. When detecting a bullish trend, the central line is colored green. When detecting a bearish one, the central line is colored red. The flat state is marked by gray color.

Fig. 1. Extreme TMA Line, Redraw = Yes

Fig. 2. Extreme TMA Line, Redraw = No

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22350

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