Market Way Indicator

Name: Market Way
Download: MarketWay.mq4 (7.4 Kb)

Description:

The idea of this indicator is old, but not so much that we can say that is as old as forex:) The reason that the differences in the costs of opening and closing appeared only with ...

This indicator summarizes the difference of opening and closing for a certain period of time, the main line, + - Sums only bear bars; - Sums up the only bull bars, and also added a weighted average of the total period.

Advantages:

• Combines (important!) The possibility of an oscillator and the trend indicator;
• Easy to understanding and interpretation;
• Good points to upward or downward movement;
• Points to the bull and / or bearish pressure, the estimated amount of motion (important!) In points, which can play a significant role in the installation stops and profits.
• Indicates the presence of lateral movement, and its strength (high or low volatile).
• Indicates the point of overbought / oversold levels.
• Clearly indicates the wave function of the price movement and the possibility of rendering the levels of divergence / convergence.
• Allows you to decide on the future behavior of prices and (important!) To enter the market, using the (important!) Only this indicator;
• Works well with the data of any timeframe, as well as with the data other than forex, markets;
• Without additional smoothing filters out false signals the breakdown cost SMA with the same period

Disadvantages:

• Must always be a settlement period, which naturally decreases the accuracy of the analyzed data sample size (the main problem of all, including and this indicator);
• Poorly studied all the possibilities of this indicator

Source: Mql4.com