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Indicators

Analysis of the waves - indicator for MetaTrader 4

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28293
Rating:
votes: 10
Published:
2010.02.22 09:03
Updated:
2016.11.22 07:32

The trend determination is based on ZigZag indicator. An each trend is marked with rectangle with different colors. The information about trend (h-size, v-average volume, s-speed in pips/hour) is displayed in the upper/lower corners. The current trend is considered from the beginning of the last rectangle.

Image:

The Advices:

It's possible to use this indicator for the analysis of the Ellott Waves and for the trading using the information of the price velocity changes.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/9505

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