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Published:: 2018.03.14 14:14

Point of Balance.mq5 (10.51 KB) view

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From Walter Downs’ article "From Terms To Technical Tools" he introduces the Point of Balance Oscillator, two conditions to color bars and two system tests.

The indicator shows current trend by showing a color of the current balance. The opposite color is not displayed as long as it does not become a trend (hence, lack of color, means the opposite trend is the prevailing)

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Point of Balance - indicator for MetaTrader 5