Advanced Line Chart - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
This line attempts to reflect the main direction of the trend. It is calculated based on Japanese candlestick data.
If the trend is up, the line is closer to the high price of each candle and vice versa, if the trend is down, the line is closer to the low price of each candle.
This is useful for plotting various moving averages and can serve as a good basis for calculating other indicators.
Attachment download
📎advanced_line_chart.mq5 (3.92 KB)
Source: MQL5 #42657
Advanced Line Chart - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Advanced Line Chart - 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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