Tail_Bar - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Stars are known to be evidence of the beginning of a price reversal. But instead of a star, a candle with an asymmetric "tail" can appear, which is also evidence of the struggle between "bulls" and "shorts".
This indicator shows this difference. If the low tail is greater than the high tail, the bars on the histogram will be above the zero line. If the low tail is longer, the bar will be at the bottom. Bar amplitude is the difference between tails. The bigger the difference, the bigger the sign that the trend is reversing and ending. A more vivid sign is the simultaneous appearance of multiple columns with a single direction and a large amplitude!
The indicator was first implemented in MQL4 and released in the code base on March 31, 2014.
Figure 1. Tail_Bar indicator
Attachment download
📎 tail_bar.mq5 (4.81 KB)
Source: MQL5 #11248
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