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Lucky Parrot MT5

The Lucky Parrot is a trend indicator. It allows to visually determine the current stage of the price. The blue histogram color indicates an uptrend, red means a downtrend.

The indicator is not redrawing. By changing the Offset Factor parameter, it is possible to receive more or less signals. The lower the value, the more frequent the signals.


Parameters

  • Applied Price - applied price of the MA indicator (0 - Close, 1 - Open, 2 - High, 3 - Low, 4 - Median, 5 - Typical, 6 - Weighted)
  • MA's Period - period of the MA indicator
  • MA's Method - calculation method of the MA indicator (0 - SMA, 1 - EMA, 2 - SMMA, 3 - LWMA)
  • ATR's Period - period of the ATR indicator
  • Volatility's Factor or Multiplier - volatility coefficient (correction factor)
  • Offset Factor - risk coefficient (correction factor)
  • Show alerts - enable/disable visual and audio alerts
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