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Indicatori

Three Screen Elder Arrows - indicatore per MetaTrader 5

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Real author:

Alexander Elder

The indicator is based on the trading system "Elder's Triple Screen": we have 3 timeframes (windows) 1 - the highest, 2 - medium, 3 - the lowest or the current one. To avoid errors, it is not recommended to change their positions. The algorithm is based on a very simple principle: if MA grows on the specified timeframes (windows) - buy, if falls - sell.

Figure 1. The indicator

Tradotto dal russo da MetaQuotes Ltd.
Codice originale https://www.mql5.com/ru/code/1797

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Another version of the indicator that calculates support/resistance levels.

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The indicator draws bars based on Elder's impulse system.

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Easier visual analysis of graphical objects created by the strategy tester.

NextBarColor NextBarColor

The indicator "predicts" the color of the next bar with the probability specified in the settings. It is useful for the evaluation of strategies aimed at such a prediction when choosing trading instruments / timeframes for strategies. Caution: The indicator "looks into the future", so do not apply it in real life or in the strategy tester!