JSatl_Digit_System – indicator for MetaTrader 5
The indicator implements a breakout system using a channel based on the High and Low price series processed by the algorithm of JSatl_Digit.
When price exits the gray channel, the bar color changes to the color corresponding to trend direction. Green for the growth of a financial asset, red color – fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.
The price labels indicate the most recent values of the channel, used as the breakout levels.
The indicator uses the classes of SmoothAlgorithms.mqh library (copy it to <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”.
Fig1. The JSatl_Digit_System indicator