VKW_Bands_Modify_DeMarker - MetaTrader 5 Script - MT4/MT5 Resources

This indicator is used to determine when pending orders should be placed, using the ColorMETRO_DeMarker oscillator. Thick pink and red lines define the boundaries of the channel. When the gray fast line of ColorMETRO_DeMarker exceeds the channel boundary and returns to the inside of the channel, it is the most suitable time to place a pending order.

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.

This indicator requires compiled indicator file ColorMETRO_DeMarker.ex5. Place it in <terminal data folder>\MQL5\Indicators.

Figure 1. VKW_Bands_Modify_DeMarker indicator

Attachment download

📎colormetro_demarker.mq5 (9.25 KB)

📎 vkw_bands_modify_demarker.mq5 (10.58 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #14511