Author: YURAZ
Meet the MDAC indicator that colors bars based on the Elder method. This tool can enhance your trading experience by visually indicating market trends.
- Green Bars: Signify an uptrend, suggesting it's a good time to consider buying.
- Blue Bars: Appear after green or red bars and indicate a potential trend change, so keep your eyes peeled!
- Red Bars: Indicate a downtrend, which might be a signal to sell or avoid buying.
To get the most out of this indicator, you'll need to use the SmoothAlgorithms.mqh library classes. Make sure to copy these into your terminal_data_folder/MQL5/Include. For a detailed guide on how to leverage these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
The ZZ_YZ_MDAC_ELDER indicator was initially developed in MQL4 and was first published on the Code Base back on February 10, 2008.
The ZZ_YZ_MDAC_ELDER 1-1000 Indicator
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