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Consecutive Bars (with history) indicator for MT5 - MetaTrader 5용 지표
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I have repeatedly seen traders clamoring for an indicator that counts consecutive up and down candles (bars) in the Forum. Clearly, many traders use, or want to use, that indicator. Although I've seen various options for MT4, options for MT5 appear to be limited. The consecutive bar counting indicators that I found merely show the current count of consecutive bars that print in the current price direction. Therefore, I coded this Consecutive_Bars indicator for MT5.
The main benefit of this indicator is that you can set a level at the most frequently appearing "false swing" count─thereby filtering those false swings out of your trading. The blue line study shows up bars, and the red line study show down bars. Upon 1 bar printing in the opposite direction of the count, the line studies respectively return to the 0 level.
The only input setting is MaxBars which sets the maximum lookback/drawing period of the entire indicator.
The code (framed below) is heavily commented as a detailed explanation, especially for aspiring coders.
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