Category: Pattern Indicators
Blue Renko Bars Indicator
The Blue Renko Bars Indicator displays, as the name suggests, Renko Candlesticks colorized to blue color. The default size of each brick is 10 pips. Remember that Renko Chart works in a different way than standard Japanese Candlesticks Charts. In the case of Renko, the candlesticks are based on the price movement, not on the […]
RSI Divergence Indicator
The name of the RSI Divergence indicator seeks for Relative Strenght Index divergences and displays them both within indicators window and on the activity chart in conjunction with buy/sell arrows. There are multiple customizable input settings, including: Period – defines calculation period; Applied price – defines price calculation method; Overbought – defines overbought level; Oversold […]
Automatic Trendline Indicator
The Automatic Trendline indicator, as the name suggests, draws trendlines on the chart automatically. This indicator has six inputs. Users can specify alternative labels for both lines. If multiple instances of the indicator are used, the labels must differ. One can set the width and color of the lines and depth which specifies what significant […]
Heiken Ashi Indicator
The Heiken Ashi Indicator for MT5 is an alternative approach to displaying price candlesticks. While the most traders are familiar with so-called japanese candlesticks, the heiken ashi utilizes different formula with the goal to reflect trends better. These bars usually have longer wicks and are filled with blue and red colors – they respectively corresponds […]
