JFatl_Digit_System - MetaTrader 5 Script - MT4/MT5 Resources

This indicator implements a breakout system using a channel based on high and low price series, which is processed by the following algorithm JFatl_Numbers .

When price exits the gray channel, the bar color will change to the color corresponding to the direction of the trend. Blue represents the growth of financial assets and red represents the decrease of financial assets. Bright colors indicate that the trend direction is in line with the direction of the candlestick. Dark colors correspond to situations where the candlestick direction is opposite to the trend.

The price label indicates the latest value of the channel, which is used as a breakout level.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1. JFatl_Digit_System indicator

Attachment download

📎 JFatl_Digit_System.mq5 (13.94 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #15878