Mikahekin - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
Modified by: Ronald Verwer/ROVERCOM
Mikahekin can be called a complete analysis block and not just an indicator. The blue and magenta dots show the trailing stop levels for long and short positions respectively.
The color of the bar shows the direction of the trend, and its height indicates the strength of the trend. The entry point is the moment when the bar changes color. When the color changes from red to green, it is time to open a long position. When the color changes from green to red, it is time to open a short position.
Attachment download
📎 mikahekin.mq5 (8.97 KB)
Source: MQL5 #557
Mikahekin - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
Mikahekin - 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 only on titles or short-term profit descriptions.
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