PsyIndicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource
Real author:
Bruce Hellstrom(brucehvn)
Trend indicator drawn in the form of a cloud. The envelope cloud is the weighting coefficient of the price increment during that period. The indicator change range is 0%~100%. A value of 100 for the 25-period indicator means that in all the previous 25 bars, the price of the financial asset increased.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on June 22, 2008.
Figure 1 PsyIndicator indicator
Attachment download
📎 psyindicator.mq5 (10.35 KB)
Source: MQL5 #1702
PsyIndicator - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
PsyIndicator - 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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