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MAMy v3 - indicator for MetaTrader 5
- Published by:
- Vladimir Karputov
- Views:
- 4412
- Rating:
- Published:
- 2018.12.18 19:12
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The author of the idea: Victor Chebotariov
MQL5 code author: barabashkakvn
The indicator is based on three moving averages. If we attach these MAs to the chart, we get something similar to Alligator. The operation principle is similar as well.
- If MA Close exceeds MA (H+L+O+C)/4, while MA (H+L+O+C)/4 exceeds MA Open - BUY.
- If MA Close is less than MA (H+L+O+C)/4, while MA (H+L+O+C)/4 is less than MA Open - SELL.
- If MA Close exceeds MA (H+L+O+C)/4 - CLOSE SHORT POSITION.
- If MA Close is less than MA (H+L+O+C)/4 - CLOSE LONG POSITION.
The indicator shows these signals using two lines:
- Green line shows buy/sell signals. If the zero line is crossed upwards - BUY, downwards - SELL.
- Red line shows market exit signals. If the zero line is crossed upwards - CLOSE SHORT POSITION, downwards - CLOSE LONG POSITION.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22574
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