ExTrend - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Alex Seed (executor)
This indicator is a development fractal line indicator of the concept.
Draw the two current fractal lines only at the highs and lows formed by the last two fractals. The slope levels of the upper and lower fractal lines are plotted in additional windows. For angle values equal to zero, the line is parallel to the horizontal axis. Positive values indicate an upward slope, and negative values indicate a downward slope.
This indicator is optimized on the H4 timeframe.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on December 22, 2006.
Figure 1 ExTrend indicator
Attachment download
📎 extend.mq5 (13.28 KB)
Source: MQL5 #1471
ExTrend - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
ExTrend - 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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