Dots (MetaTrader indicator) | FREE Forex Trading Indicator
Dots (MetaTrader indicator) is based on TrendLaboratory’s 2006 indicator. By placing dots on the main chart, it displays the current trend direction. The blue dots indicate a bullish trend, while the red dots indicate a bearish trend. Despite the fact that the indicator does not rely on any standard MetaTrader indicators, it uses a call to iMA() (moving average) to obtain price values based on the input price type (Close, Open, High, Low, Typical, etc.) The calculation is based on the cosine of the price change angle. Trader can change a number of input parameters. The indicator is available for both the MT4 and MT5 platforms.
- Length (default = 10) — the period of the indicator. The higher is the value the more it lags but less false signals appear.
- AppliedPrice (default = PRICE_CLOSE) — price type to use in calculations.
- Filter (default = 0) — particularly useful parameter to filter out spikes without adding lag.
- Deviation (default = 0) — shifts indicator display vertically.
- Shift (default = 0) — shifts indicator display horizontally.
- - - - - - - -
⭐The Best Cent Account To Test Your Forex Trading EA.⭐
- - - - - - - -
⭐Great Forex Broker With High Affiliate Commission For Your Forex Trading EA.⭐
The recommended strategy is to wait for 2 dots of the same color and enter the trade with the trend. Unfortunately, it sometimes fails. Using one dot signal with Filter parameter set to something like the currency pair’s spread x 3 could be a better idea.
Downloads (ver. 1.02, 2021-03-02)
You May Also Like ❤ :
The extreme spike indicator is a Metatrader indicator that detects market trend extreme high and extreme low spikes. It is...
Heiken Ashi Nave is a MetaTrader expert advisor that uses the platform’s standard indicator of the same name to implement...
PersistentAnti EA (Measures persistence of price movements; trades against it) | FREE Forex Trading EA
PersistentAnti is a Forex expert adviser that takes advantage of the concept of trend persistence. The Forex market charts are...
Ichimoku Chikou Cross EA (Uses Ichimoku Kinko Hyo for signals, ATR for position sizing) | FREE Forex Trading EA
Ichimoku Chikou Cross is a MetaTrader expert advisor based on standard Ichimoku Kinko Hyo indicator with default settings. Specifically, it...