Trendless_OS - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Trendless OS DiNapoli was developed by Joe DiNapoli in the 1980s and described in his book "Trading with DiNapoli Levels". Like other indicators, Trendless OS is a complement to the main decision-making tool - Fibonacci levels. Moreover, according to DiNapoli's concept, the Trendless indicator can be used as a standalone trading tool. Separate level settings should be selected for each trading asset.

There are five inputs:

 TrendlessOS = Application Price – SMA (Application Price, Period)
The indicator also offers two additional display types: line (standard) and color histogram, which displays bars in different colors depending on the position of the oscillating line relative to its level. In addition to the overbought and oversold levels, two levels are available: 0.6 and 0.8 of the values ​​given in the settings.

Figure 1. Trendless OS - Plot Type = Line

Figure 2. Trendless OS - Plot Type = Histogram
 Attachment download
 📎 trendless_os.mq5 (12.88 KB)
 Source: MQL5 #21855