Breakout Bar Trend v2 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This indicator is an alternative to МА and other trend indicators and does not use moving averages and periods that only react to price changes. Delta, as a reversal parameter, is not based on closing prices, but on extreme values, that is, the highest and lowest prices. At the same time, the condition for turning is not only the delta, but also the breakout bar, that is, the breakthrough of a certain price level. A breakout below a bar (a bar with a "pure" close) means a bar with a close above the high or below the low of the previous bar. The isolation of these bars is like the appearance of a new box on a (three) linear reversal chart.
New features:
Breakout Bar Trend v2 Indicator with 1% Delta:
suggestion:
To display the indicator correctly, go to the properties of the chart ( F8 ) - General and remove the check mark in the "Chart above" parameter.
Attachment download
📎 breakoutbarstrend_v2.mq5 (11.88 KB)
Source: MQL5 #1378
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •