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FOREX Beginner MetaTrader Indicator

LED Beginner

Beginner MetaTrader Indicator - a very simple custom indicator that displays the local peaks and troughs on the chart with the red and blue dots next to them. He examines the highs and lows on the season and compares them with the range in which the traded currency pair, and if the peak / trough quite significant, it marks the point. This indicator is redrawn when you reboot, and therefore can not be used to generate trading signals as well as the positions of points are subject to change. Indicator is available in two versions - MT4 and MT5.

Inputs:

  • AllBars (default = 0) - number of bars for which to apply the calculation of (0 - all the bars). There is no reason to change this setting.
  • Otstup (default = 30) - the amount of interest that are cut off from range, before the highs and lows compared to determine their significance. The higher the number, the more points will be encountered.
  • Per (default = 9) - the period in which the maximum and minimum are calculated at the time. The higher the number, the less will be meeting points.
forex beginner

It is important to understand that this indicator can not be used for trading signals. That is, you can not sell when there is a red dot, and buy when there is blue - you simply lose all. This indicator can only be used to quickly find support and resistance points, if you trade through a system based on breaks, or to develop its own indicator.

Beginner.mq4
Beginner.mq5

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