i4_GoldenLionTrend_v3 - MetaTrader 5 Script - MT4/MT5 Resources
Real author : goldenlion@ukr.net
Trend strength indicator using two Bollinger Bands channels. When the price exceeds the boundaries of the second (larger) channel, the color of the bars becomes brighter. When the price goes beyond the borders of the first (smaller) channel, the color of the bars becomes darker. When price is within a smaller channel, there are no colored bars.
The indicator was originally written in MQL4 and first published in the code base on January 28, 2006.
Figure 1. i4_GoldenLionTrend_v3 indicator
Attachment download
📎 i4_goldenliontrend_v3.mq5 (15.84 KB)
Source: MQL5 #18451
i4_GoldenLionTrend_v3 – MetaTrader 5 script usage and screening recommendations
i4_GoldenLionTrend_v3 - MetaTrader 5 script belongs to gold EA 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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