Chicken Knife - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
A simple indicator that attempts to evaluate autocorrelation in price series.
- Values above 0 indicate an autocorrelation between returns and therefore a strong direction of movement (which may indicate the start of a trend or the chance of a reversal).
- Values below 0 indicate periods of uncertainty (possibly indicating the end of a trend/reversal).
- Values close to 0 represent a region similar to a random walk and therefore not particularly interesting.
This indicator should be used as a support for other indicators as it does not provide trading direction to the user.
Attachment download
📎 chickenknife.mq5 (3.61 KB)
Source: MQL5 #39621
Chicken Knife - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Chicken Knife - 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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