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Published:

2018.10.25 18:06

CCI_OBOS_With_Confirmation.mq5 (19.22 KB) view

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CCI OBOS With Confirmation indicator is based on CCI and OBOS indicators. The indicator places signal labels to the price chart when crossing these indicator lines and confirming a trend direction.

The indicator has three input parameters:

OBOS period - OBOS calculation period
CCI period - CCI calculation period
Color candle - color candles according to a trend direction

OBOS indicator is not required - it is calculated by the indicator independently

Signals:

When CCI line crosses the upper OBOS line upwards and a trend is bullish or uncertain, the green label is set on the candle open price
When CCI line crosses the lower OBOS line downwards and a trend is bearish or uncertain, the red label is set on the candle open price

Color candle:

If Color candle = Yes, the price chart candles are colored in trend colors specified in the indicator color settings.

Fig. 1. CCI OBOS With Confirmation

Fig. 2. CCI OBOS With Confirmation + colored candles

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22375

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