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Indicators

Market_Direction_Indicator - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português

Views:
672
Rating:
votes: 5
Published:
2018.10.25 18:17

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.

Fig. 1. Market Direction Indicator


Fig. 2. Market Direction Indicator as an oscillator


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22359

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