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Indicators

Slope_MA_Confirmation - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português

Views:
2030
Rating:
votes: 19
Published:
2018.11.20 12:53

Trend indicator. The indicator displays the lines and compares direction of two moving averages: Moving Average and Slope Direction Line. If the indicator lines coincide, the price chart displays colored candles.

It has six input parameters:

  • MA period - Moving Average calculation period
  • MA method - Moving Average calculation method
  • MA applied price - Moving Average calculation price
  • SDL period - Slope Direction Line calculation period
  • SDL method - Slope Direction Line calculation method
  • SDL applied price - Slope Direction Line calculation price
  • If Moving Average and Slope Direction Line are directed upwards:
    • If the candle is bullish, it is colored in green.
    • If the candle is bearish, it is colored in light-green
  • If Moving Average and Slope Direction Line are directed downwards:
    • If the candle is bearish, it is colored in red.
    • If the candle is bullish, it is colored in light-red
  • In any other case, colored candles are not drawn.

Slope Direction Line indicator is not required - it is calculated by the indicator independently.


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22945

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