Balance Point - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
In Walter Downs's article "From Terminology to Technical Tools" he introduces equilibrium point oscillators, two conditions for color bars, and two system tests.
This indicator shows the current trend by showing the color of the current balance. As long as it is not trending, the opposite color will not show up (thus, the lack of color, means that the opposite trend is dominant)
Attachment download
📎 point_of_balance.mq5 (10.51 KB)
Source: MQL5 #20209
Balance Point - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Balance Point - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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