• Overview
  • Reviews (1)
  • Comments
  • What's new

BarLineBreak AM

The indicator detects the current trend using the following definition:

A trend is a market situation when each subsequent peak is higher/lower than the previous one, as well as each subsequent bottom is higher/lower than the previous one.

Exceeding all previous peaks/bottoms on the specified amount of bars by the current peak/bottom is considered to be a beginning of a new trend.

The indicator paints bars according to an identified trend.


Settings

  • Lines_Break - number of bars used for detecting a trend.

The indicator does not repaint.

Rodrigo da Silva Boa
7131
2015.12.29 02:40 
 

User didn't leave any comment to the rating

Version 2.2 - 2016.05.19
Improved the indicator accuracy when both high and low of a new bar move beyond high and low of a specified period.
Version 2.1 - 2016.04.21
Fixed the error with the indicator rendering.
Version 2.0 - 2016.04.18
Addeed the check for the validity of the entered indicator settings.
Version 1.2 - 2015.11.18
Fixed the indicator calculation in case of successive equal bar Highs and Lows.
Version 1.1 - 2015.11.11
Revised indicator calculation algorithm. The calculation principle is preserved.