Breakout Bar Trend - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

It was created as an alternative to MA for determining trend direction and is a "hybrid" of the Linear Reversal and iMovment indicators ( https://www.mql5.com/en/code/99 ). The difference with this last one is that the delta (reversal parameter) is not plotted against closing prices, but against extreme values ​​(i.e. high and low). At the same time, the condition for reversal is not only the delta, but also the breakout of the 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 new boxes on a (three) linear reversal chart.

A SeriesBuffer buffer is added to the indicator in which the number of broken bars for each trend is written at each moment so that the Expert Advisor can obtain this data. Additionally, this indicator can also show the number of breakout bars that have been reversed in the last few times.

suggestion:

Attachment download

📎 breakoutbarstrend.mq5 (7.56 KB)

Source: MQL5 #1144