Watch how to download trading robots for free
Find us on Facebook!
Join our fan page
Join our fan page
You liked the script? Try it in the MetaTrader 5 terminal
- Views:
- 11269
- Rating:
- Published:
- 2013.04.09 13:15
- Updated:
- 2016.11.22 07:32
-
Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
To define the trend reversal, the indicator does not use any Moving Averages, or parameters connected with the distance passed by the price. The only criteria is the breakthrough of maximums / minimums of the previous bars.
More particularly:
- reversal upwards is formed, if the current bar closing is higher than high of previous (x-1) bars.
- reversal downwards is formed, if the current bar closing is lower than low of previous (x-1) bars.
EURUSD D1. The number of bars in the pattern is 10:
Recommendations:
- The less the number of bars in the pattern, the more sensitive indicator. In my opinion, the reasonable range of values is from 3 to 15.
- As a variant of using: use the XBarClearCloseTrend indicator to determine the direction of the trend and any other instrument to determine the points of entry. It should be noted that the idea of creation of the indicator formed on the basis of the pattern which I used to define the points of entry / exit.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/1622
![i-Monday_Sig](https://c.mql5.com/i/code/indicator.png)
Entry signals on the system "Monday"
![Demo_FileReadArray](https://c.mql5.com/i/code/script.png)
The script demonstrates the example of using the FileReadArray() function
![Demo_FileWrite](https://c.mql5.com/i/code/script.png)
The script demonstrates the example of using the FileWrite() function
![Demo_FileReadDatetime](https://c.mql5.com/i/code/indicator.png)
The indicator demonstrates the example of using the FileReadDatetime() function