Advance_Decline_Line - MetaTrader 5 script - MQL5 #20564
The indicator rising and falling lines show trend strength lines. It can also detect possible changes in its orientation.
It has two input parameters:
The two components of a candlestick chart over a period of time, positive and negative, are used in the calculation. The resulting value is the difference between these two components. When using the accumulation algorithm, the indicator value calculated on the previous bar is added to the result.
Figure 1. ADL accumulation calculation algorithm
Figure 2. ADL without accumulation calculation algorithm
Attachment download
📎 advance_decline_line.mq5 (6.93 KB)
Source: MQL5 #20564
Advance_Decline_Line - MetaTrader 5 Script - MQL5 #20564 Usage and Filtering Advice
Advance_Decline_Line - MetaTrader 5 Script - MQL5 #20564 is a resource related to foreign exchange indicators. 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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