This line tries to reflect the main direction of the trend and it is calculated based on Japanese candlestick data.
If the trend is up, then the line is closer to the high prices of each candle, and vice versa, if the trend is down, then the line is closer to the low prices of each candle.
This is great for plotting various moving averages and can be a good basis for calculating other indicators.
Advanced ADX - indicator MetaTrader 5 The Average Directional Index (ADX) is a trend indicator used to measure the strength and momentum of an existing trend.…
Advanced Fractals - indicator MetaTrader 5 The indicator searches for fractals with arbitrary dimensions: 1x1, 2x2, 3x3, ... NxN It has only one input parameter: Frames…
