Pivot Trend Line Filtered MT5
The indicator displays a trend line, the calculation algorithm of which is similar to the algorithm for calculating daily pivot values. A disengageable three-mode filter helps remove the most of the false trend breakdowns. Three options for analyzing the source data allow you to get a near the price or a more smoothed line. Only “fixed” price data are used for calculation, therefore, after the bar is closed, the indicator values do not change or redraw on the history.
- Main period - main indicator calculation period
- Filter period - filter period (0 - to disable the filter). The filter period must be less than the main period.
- Data period - the number of bars for the analysis of the source data
- Filter mode - filter operation mode
- Algo mode - the mode of source data analysis algorithm