Download MetaTrader 5

Indicators: Trend power and direction indicator

To add comments, please log in or register
All Code Base apps are available from MetaTrader 5. You can publish your own one!
Automated-Trading 2011.09.29 10:34 

Trend power and direction indicator:

This indicator paints the candlesticks in different colors depending on a trend power and direction.

The indicator is based on five symmetrical Bollinger Bands with different deviation input parameters values. Breakout of the channel with a big deviation value results in a brighter color of a candlestick. Spring green color shades are used for the rising market, while maroon color shades are intended for the falling market.

Five deviation levels and ten colors for trend display are used. In case the weakest deviation level is not passed, the candlesticks are not colored and have a common coloring.

Author: Nikolay Kositsin


muller 2012.01.11 09:01  

Very nice tool, thanks.

I try to play with colors, hidding some of them, but the result is unexpected, like some swifting when i replace a color by CLR_NONE for example; Wonder how to set these colors to display only Brown & Aqua for example ?

To add comments, please log in or register