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Published:

2018.10.25 18:17

Market_Direction_Indicator.mq5 (13.07 KB) view

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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.