i-Friday_Sig - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Real author:

Igor V. Kim aka KimIV

Entry and exit signals on the Friday trading system "Friday Effect".

Signals are determined by the previous day's daily candlestick. If the candlestick is growing, long positions will be opened during the hour defined by the HourOpenPos indicator input parameter (opening time), and long positions will be closed at the time defined by the HourClosePos indicator input parameter (closing time). Similarly, short positions will be opened on Thursday’s falling candlestick. The arrows of the indicator mark the entry, the turn - the exit of the position.

This indicator does not work on timeframes longer than one hour! The indicator was first implemented in MQL4 and published in the code base of mql4.com on September 24, 2007.

Figure 1 i-Friday_Sig indicator

Attachment download

📎 i-friday_sig.mq5 (11.21 KB)

Source: MQL5 #1559