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BW-wiseMan-1 - indicator for MetaTrader 4

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votes: 4
2016.03.25 15:19
Author: wellx

The first version of the wlx BWWise Man indicator. Displays the candles of trend changes. According to the latest book by Bill Williams.

Translated from Russian by MetaQuotes Software Corp.
Original code:

Import of "minute bars" from Import of "minute bars" from

Script for preparing the "minute bars" from to be imported to MetaTrader 4

Trend power (stop loss) Trend power (stop loss)

The indicator is based on comparison of the current price to six simple moving averages with the periods 10, 20, 30, 40, 50 and 60. The values of the indicator are fixed: -100, -66, -33, 0, 33, 66, 100.

T3_adx_+di_-di_burst T3_adx_+di_-di_burst

Smoothing for the ADX indicator. Recalculates the specified number of bars at every tick (not optimized)

Linear Regression Linear Regression

When applied to financial markets this method is usually used to determine the moments of prices extreme deviation from the "standard" level.