Meet the Creators: Check out Scriptor for the original concept, and barabashkakvn for the MQL5 coding behind it.
The Elders Safe Zone indicator is a valuable tool that pinpoints a 'safe zone' for trading based on the High, Low, and Close prices alongside the Moving Average indicator.
For the best trading results, look to execute your trades when the indicator is moving sideways:
- If the price is above the horizontal line of the indicator, it’s time to go long and open a BUY position.
- If the price dips below the horizontal line, it’s a signal to open a SELL position.
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