Have you tried searching for Elliot Waves Indicators. Have you studied Elliot Waves? The codes are based on Elliot Waves so if you don't think this one is helpful in down_trends then you can search for others for down_trends.
//+------------------------------------------------------------------+ //| MAB_TD_D-WaveUp | //| v1.0 | //| | //| This indicator is a D-Wave indicator as described in Perl's | //| book, "DeMark Indicators." It is basically an objective Elliot | //| Wave. This portion of the indicator is only the up wave. | //| | //+------------------------------------------------------------------+
Also this indicator has problems https://www.mql5.com/en/forum/120201
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hi
i has indicator D-Wave indicator TD_DuWaveUp.mq4 use in Up trend only,,,, i need for use at Down trend too. if your has it can share for me pls.
Nickii