BvsB - MetaTrader 5 Script - MQL5 #11405 - MT4/MT5 Resources
Trend following trading indicator implemented as a colored cloud. Open a position when the color changes. The monotonic convergence of the lines indicates a fading trend.
This indicator is actually a combination of bull and short power indicators, one of which is inverted.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to the terminal data folder \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
The indicator was originally written in MQL4 and first published in the code base on March 20, 2012.
Figure 1. BvsB indicator
Attachment download
📎 BvsB.mq5 (7.83 KB)
📎 smoothalgorithms.mqh (134.03 KB)
Source: MQL5 #11405
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