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FractalsTrendLines - indicator for MetaTrader 5
- Views:
- 13384
- Rating:
- Published:
- 2015.01.23 11:23
- Updated:
- 2016.11.22 07:32
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The indicator draws bull and bear lines of a trend on the basis of iFractals indicator's data from the nearest extremum to the last fractal broken down.
When this fractal is broken down, the line becomes permanent till a new extremum appears.
Input Parameters:
- inpClrBull=clrGreen; Color of the trend's bull line;
- inpClrBear=clrRed; Color of the trend's bear line.
This indicator can be interpreted as follows:
- "Pass-Through Cross" line crossing.
- Candle closing above both lines: "Bull Trend".
- Candle closing above both lines: "Bear Trend".
- Candle closing between the lines, "Pass-Through Cross" on the left side: "Flat".
- Candle closing between the lines, "Pass-Through Cross" on the left side: "Triangle of Uncertainty".
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/12189
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