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2011.08.01 14:54
Indicators

BrainTrend1Stop - indicator for MetaTrader 5

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BrainTrend1Stop is a trend reversal indicator. Intersection of the stops line by a price indicates trend reversal and the time to close previously opened positions.

BrainTrend1Stop algorithm is based on the ATR and Stochastic Oscillator indicators. In this version the values of all algorithm variables are designed as the indicator's input parameters, so now it be used with custom settings.

Cyan line below the candlesticks minimums indicates the following:

  1. The market trend is going upwards;
  2. The meaning of the line itself - protection stop at that level or profit taking (if position is profitable) for a long position.

Magenta line above the candlesticks maximums indicates two things:

  1. The market trend is going downwards;
  2. The meaning of the line itself - protection stop at that level or profit taking (if position is profitable) for a short position.

BrainTrend1Stop

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/393

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