MATonySignal - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
This indicator shows trend strength and direction. Uptrends are in blue and downtrends are in red. When the trend is strong, the bars are bright and shallow, and when the trend is weak, the bars are dark. The level at which a strong trend is triggered is defined by the value of the input parameter of the MA_Level indicator. In fact, the indicator calculates momentum based on the average price, defining the direction of the trend, and this momentum is equal to the horizontal trigger value to define the trend strength.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on October 3, 2008.
Figure 1 MATonySignal indicator
Attachment download
📎 matonysignal.mq5 (7.32 KB)
Source: MQL5 #1347
MATonySignal - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
MATonySignal - 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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