Self-Advancing Decline Line - With Floating Levels - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
According to the description here: The indicator calculates the rise and fall of the applied symbol (instead of calculating some other instruments, that's why the name "Self" came. It seems that it is also useful in the "Self" form. In addition, since the color change of the slope change alone is not too reliable a signal, this version adds floating levels to evaluate trends (and signals). You can use color changes in:
You can use color changes as signals
Attachment: Examples of "big picture"
Attachment download
📎 self_advance_decline_line_tfll.mq5 (9.35 KB)
Source: MQL5 #23947
Self-advancing descending line - with floating levels - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Self-advancing descending line - with floating levels - MetaTrader 5 script | Forex 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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