NELODI Trend Waves for MT5 - MetaTrader 5 Library - MetaTrader 5 Resources

This is a highly customizable monster trend indicator that calculates potential support and resistance areas for standard deviations, moving averages, and many other indicators. By default, only the most relevant lines are drawn, but you can customize what you want to see by entering parameters. If everything is turned on, the indicator will draw 119 different colored lines, so... don't be surprised if you can't see anything when you do ;)

Note: Since this indicator performs a lot of calculations over many different time periods, the CPU usage can be very expensive, so... use with caution. To reduce delays when adding the indicator to the chart and switching time ranges, it only counts a limited number of bars in the data history of a certain time period (see input parameter "History Range").

Disclaimer: This software is provided by the copyright holders and contributors "as is" and any express or implied warranties are provided, including, but not included, limited to the implied warranties of merchantability and fitness for a particular purpose. In no event shall the copyright owners or contributors be liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, procurement of substitute goods or services; loss of use, data, or profits; or business interruption) on any theory of liability, whether contract, strict liability, or tort (including negligence or otherwise) however caused, arising out of the use of this software, even if advised of the possibility of such damages.

Use at your own risk!

Attachment download

📎 nld_colors.mqh (8.78 KB)

📎 nld_medians.mqh (22.5 KB)

📎 nld_medbuffers.mqh (42.41 KB)

📎 nld_trendwaves.mq5 (146.54 KB)

📎 screenshotwaves1.png (30.25 KB)

📎 screenshotwaves2.png (69.38 KB)

Source: MQL5 #26871