iTrend - MetaTrader 5 Script - MQL5 #505 - MT4/MT5 Resources
This is two indicators rolled into one. The histogram value is the sum of the values of two technical indicators -Bears Power andBulls Power .
A moving average is the difference between the price of a financial asset and the price of a financial asset. Bollinger Bands® (depends on the value of the Bands_Mode input parameter; a "Direction" switcher is provided to invert the histogram so that it displays correctly with different values of this parameter).
The indicator was first implemented in MQL4 and published in the code base of mql4.com on July 13, 2006.
After analysis, we came to the conclusion that it violated the normal logic of the code. Therefore, I modified the algorithm when preparing indicators in MQL5.
Attachment download
📎 itrend.mq5 (9.46 KB)
Source: MQL5 #505
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