The MDAC indicator with bar coloring according to Elder.
Green bars – uptrend;
Blue bars following green or red bars – trend change;
Red bars – downtrend.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
This indicator was first implemented in MQL4 and published in the Code Base on 10.02.2008.
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