Notch - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Original author:
Serkov Alexander
The indicator draws lines through an ascending sequence of the highest values and a descending sequence of the lowest values.
In an uptrend, the top line is much shorter and can be used as an entry point. For a downtrend, the opposite is true.
The indicator was originally written in MQL4 and first published in the code base on September 10, 2014.
Figure 1. Gap indicator
Attachment download
📎 notches.mq5 (8.97 KB)
Source: MQL5 #12555
Notch - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Notch - MetaTrader 5 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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