BW-Zone - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
Essentially, it implements B. Williams-Zone's idea of a visual interpretation of the fourth dimensional state of chaos theory.
Information about chaos theory in general and the logic that specifically determines its state can be found here .
In short, the status of a zone is determined based on the values of two indicators: Awesome Oscillator and Acceleration/Deceleration. Both are included in the standard package of MetaTrader (Insert - Indicators - B. Williams).
When the driving force (Awesome Oscillator — AO) and acceleration (Acceleration/Deceleration — AC) are in the same direction (both green or both red), it means that the driving force is not only moving in that direction, but also accelerating.
If the current AC and AO columns are green, it indicates a green area. For clarity, the bar can be colored green.
If the current AC and AO columns are red, it indicates the red area. For clarity, the bar can be colored red.
If the AC and AO columns are in different directions, the bar color is gray (grey area).
Attachment download
📎 BW-Zone.mq4 (3.78 KB)
Source: MQL5 #8713
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