Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
MT5 INDICATOR.
This indicator detects and zones of demand and supply on any chart, any timeframe and any broker. It's perfect for technical analysis.
By default, the red lines suggest strong selling zones while green lines indicate strong buying zones. Once a line is drawn(green or red), there's a high chance prices will return to that zone to close the line.
INPUTS:
- (int) Strength_Filter = 1 : This new feature allows user to filter out detection of minor levels. The higher the value, the lesser the detection rate, but the advantage is the detected levels are more reliable.
- (color) Buy_color = Green : An option to choose color for BUY signal lines. Default set to Green.
- (color) Sell_color = Red : An option to choose color for SELL signal lines. Default set to Red.
Try it yourself. An EA based off of this indicator is still in the making, soon to be released. Owners of this indicators can get a the EA for free.
The attached video shows how the Indicator signals to the user these zones.
