Join our fan page
BW2 - WiseMan 1 - indicator for MetaTrader 4
- Views:
- 13710
- Rating:
- Published:
- 2016.05.16 09:32
- Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
Based on the book by Bill Williams - Trading Chaos Second Edition
Parameters:
- - updown - offset in points for the icons not to overlap
- - back - the number of past bars to consider (to detect the highest/lowest)
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/7435
Here, the focus is on the middle part of the price series. In fact, they are double-smoothed simple moving averages. The simple Moving Averages' length depends on evenness or oddness of the chosen number of periods.
Super-signalsThis indicator is very simple to use: red arrow - sell signal, blue arrow - buy signal. Exceeds its analogues, such as Hi-Lo, Trend and others, by several times. Works on any timeframe and with any currency pair.
The properties of this indicator are quite similar to the classic oscillators and exactly the same methods of technical analysis can be applied to it as to the RSI.
ADX CrossingDirectional system (ADX). The directional system has been created by George Wilder in the middle of the 70s as an addition to the PARABOLIC SAR system, and then further developed by a number of analysts.