Color Parabola - MetaTrader 5 Script - MQL5 #1193 - MT4/MT5 Resources
Real author:
Nikolai Kosichin + Lucas 1
The main advantage of the iSAR indicator is that it is based on the current price time series and therefore can be applied to other indicators. For example, here is a variation of this indicator applied to the iRVI oscillator:
Figure 1 ColorParabolic indicator applied to RVI.
Attachment download
📎 colorparabolic.mq5 (10.68 KB)
Source: MQL5 #1193
Color Parabola - MetaTrader 5 Script - MQL5 #1193 Usage and Filtering Advice
Color Parabola - MetaTrader 5 Script - MQL5 #1193 is a resource related to Forex indicators. 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 only on titles or short-term profit descriptions.
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