Points - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Trend Lab
The Point indicator is based on an indicator developed by TrendLaboratory in 2006. This indicator shows the current trend direction by placing colored dots on the main chart. Blue dots indicate an uptrend and red dots indicate a downtrend.
Although the indicator calculation is not based on standard MetaTrader platform indicators, it uses the iMA (Moving Average) function to obtain prices of a specified type (open, close, high, low, typical, etc.). The calculation is based on the cosine of the angle of price change. Users can set multiple input parameters.
Input parameters:
suggestion:
Attachment download
📎 dots.mq4 (3.8 KB)
Source: MQL5 #13179
Point - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Point - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator 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 on titles or short-term profit descriptions.
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