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2008.12.09 07:28

Madlen_5_0 - indicator for MetaTrader 4

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votes: 1

The «Madlen» lines are similar to the lines of support and resistance of horizontal or trend lines by their application. They have a good feature - there are no fallacious breaks through or activation, you can call them even the "true trend lines".

The line begins its existence since it is drawn by a signal. If a line is being drawn bottom-up and is inclined by 45 degrees then it is the support. And if the line is being drawn from top downward and is inclined by 315 degrees then it is the resistance.

The more interest there is to the support or resistance the more opposite interest will be to that same lines in future. Namely, the lines of support will turn to the lines of resistance and vice versa, resistance will turn to support. The closing of the candlestick's body beyond the region of the line or the opening of the body of the new candlestick beyond its region can serve as a signal to it. So the lines form the parallel trend channels the price moves within. Besides the channels, the different kinds of triangles are formed.

Here you should pay attention to the middle of the triangle and at the time of its ending. The moving of the price inside the triangle gathers momentum and then exportation beyond its limits occurs. The triangles are formed with different colors of lines, and the channels are formed by one of the colors. Read more...

Input Parameters:

string str="Madlen v5";
extern string __="Signal delivery";
extern bool cfg_Signal=false;
extern string _="Parameters of drawing";
extern int cfg_Period=0; //D1
extern int cfg_MaxBars=5; //number of candlesticks to be drawn
extern bool cfg_Ray=true; //drawing by rays or not
extern bool cfg_DrawLast=true; //drawing of next to the last candlestick.
extern bool cfg_DrawFibo=true; //drawing of Fibo
extern string _Session="Settings of sessions drawing";
extern bool cfg_DrawSession=true;
extern color cfg_SessionColor1=MediumTurquoise; //European
extern color cfg_SessionColor2=Gainsboro; //American
extern string _Risks="Risks";
double cfg_RiskLots=0.1;
extern  double cfg_Risk=0.01;
extern  int    cfg_RiskLevelPoint=25;


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