SmPriceBend-T01 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

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The first indicator for price change derivatives or simply trend speed and sign. There are four states of color indication. Light colors correspond to strong trends, dark colors correspond to weak trends and flat trends. For the long one, it corresponds to the indicated blue hue, for the short one, it corresponds to the indicated red hue.

For each time range, you should empirically define a flat corridor value determined using the LowLevel and HighLevel input parameters. After a few days of observing indicators, you will become somewhat experienced, so you can predict trends and their approximate strength easily and with high probability. If the chart is in the designated corridor with purple dotted lines, no one should enter. When you are outside the hallway you should enter. It guarantees that you will not be stopped and can make a certain profit from the transaction with certain experience.

The indicator was first implemented in MQL4 and released in the code base on October 16, 2007.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to 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.

Figure 1 SmPriceBend-T01 indicator

Attachment download

📎 smoothalgorithms.mqh (134.03 KB)

📎 smpricebend-t01.mq5 (8.96 KB)

Source: MQL5 #1586