"DC Signal" Signal Generator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This was my first indicator and is no longer used. However, I decided to post it - maybe, it might be useful to someone. By the way, this indicator has been used in my EA during the 2008 ATS Championship and showed good results. For MQL4, this code was released in 2008.
When considering the price chart along with three indicators: DCOS (DC2008), BullsPower and BearsPower, I noticed a pattern: price reversals occur in the same pattern on the indicators. This produces a signal indicator (generator), which shows the possible direction of price movement. Signals are formed on the previous bar and are colored respectively: yellow - sell, blue - buy. At the same time, the red dot must be enclosed within a square, otherwise the signal is considered unconfirmed.
Figure 1. “DC Signal” signal generator
Attachment download
📎 dc_signals.mq5 (12.48 KB)
Source: MQL5 #17176
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