Sultonov's Divergence Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator line shows the cumulative sum of bull and bear power over a user-defined period.
Bull power is calculated by the following formula:
The following situations apply:
Therefore, use the following formula to calculate the power withheld:
The following situations apply:
The red indicator line shows the strength of the bears and the blue line represents the strength of the bulls. Higher lines show the stronger side. Crossings of lines indicate a change in trend and are a good time to trade in the direction of strength that appears to be higher than the other line.
Figure 1. Uptrend turns into downtrend.
Updated September 22, 2017
Attachment download
📎 differential_average_by_sultonov.mq5 (16.26 KB)
Source: MQL5 #19142
Sultonov's Divergence Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Sultonov's Divergence Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. 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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