HighsLowsSignal - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

The Semaphore signal indicator determines the moments of directional price changes on multiple bars, the number of bars is specified in the indicator input parameters:

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Enter how many candles per unit = 3 ; // Number of candlesticks for directional price changes

The high and low prices of the candlestick series are used in the analysis.

The indicator was first implemented in MQL4 and published in the code base on September 14, 2007 on mql4.com.

Figure 1. HighsLowsSignal indicator

Attachment download

📎 highslowssignal.mq5 (7.35 KB)

Source: MQL5 #2307