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:: 5513
Rating:: (10)
Published:: 2018.10.25 18:17

Market_Direction_Indicator.mq5 (13.07 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

Market Direction Indicator by Donald Lambert was described in the article "The Market Direction Indicator Anticipating Moving Average Crossovers" of "Stocks & Commodities" magazine.

The indicator has five input parameters:

Fast MA period - fast MA calculation period
Slow MA period - slow MA calculation period
Cutoff in points - "cutoff area" - filter of minor price fluctuations (in points)
Show below zero - display negative indicator values in the area below zero (oscillator)
Applied price

Rising indicator values mean a bearish trend, while falling ones mean a bullish trend, the values included into the +/- Cutoff range are considered neutral.