ForexProfitBoost_2nb - MetaTrader 5 Script - MT4/MT5 Resources
Trend indicators based on two Moving Averages and Bollinger Bands are produced as colored histograms.
This is a trend indicator, so it provides the best results for trending markets. In a flat market, there will be too many false signals (need a filter). This indicator shows the presence and strength of a trend in a currency pair. The signal uses only three colors: the default colors are yellow, blue and red.
As you may have guessed, red indicates a bearish trend and blue indicates a bullish trend. Yellow indicates that the current trend is weakening, the trend may change, a pullback, or is flat. The more yellow there is on the chart, the more likely the trend is to change. A more detailed description can be found at the following link:
Figure 1. ForexProfitBoost_2nb indicator
Attachment download
📎 forexprofitboost_2nb.mq5 (9 KB)
Source: MQL5 #12602
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