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Indicators

Go - indicator for MetaTrader 5

Victor Chebotariov | English Русский 中文 Español Deutsch 日本語 Português
Published by:
Nikolay Kositsin
Views:
9709
Rating:
(15)
Published:
2011.09.14 12:46
Updated:
2023.03.29 13:43
go.mq5 (5.44 KB) view
\MQL5\Include\
smoothalgorithms.mqh (133.8 KB) view
Download as ZIP, How to download code from MetaEditor
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Real author:

Victor Chebotariov

The indicator shows the current market trend.

It is calculated as follows:

Go = SMA(CLOSE[bar] - OPEN[bar], period)

where:

  • OPEN[bar] - bar opening price;
  • CLOSE[bar] - bar closing price;
  • SMA() - smoothing algorithm;
  • period - SMA() smoothing period;
  • bar - bar index.

Indicator basic signals:

  1. Zero line upward crossing - BUY;
  2. Zero line downward crossing - SELL.

The author recommends to use this indicator with smoothing period 174, though it is possible to use other values.

The indicator uses the СMoving_Average class of the SmoothAlgorithms.mqh library. The use of the class was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

This indicator was first implemented in MQL4 and published in Code Base 03.08.2006.

Go

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/440

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