Trend and correction indicator
This indicator is a strong trend of the currency pair at a specified number of bars, and is a correction to this trend. If the trend is strong enough, and the correction becomes equal to the set in the parameters, the display indicates this. You can set different values for correction, better suited values 38, 50 and 62 (Fibonacci). Additionally, you can set the minimum length of the trend, the number of bars to find stories and other parameters.
Options
- History - the number of bars to determine the trend and correction;
- MinPriceDistance - trend minimum distance in units of the currency pairs;
- CorrectionPercent - correction percentage (recommended from 0 to 62);
- OnlyTouchingLine - enabling or disabling the option at which the signal appears only during a touch and rebound of correction lines;
- EnableAlert - Enable or disable the notification windows;
- UpColor - the color of the lower levels;
- DownColor - the color of the upper levels.
If you want to get automatic trading for this indicator, you can use the Advisor Trend and correction expert:
https://www.mql5.com/ru/market/product/22938
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