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UpDownBars

UpDownBars

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The indicator counts the Up bars (Close-Open) and Down bars (Open-Close).

Calculation:

n = Up bars (Close>Open, first bar=1, last bar=n)

m = Down bars (Close<Open)



Oscillator indicator, my opinion - use it for filtering of entry, when UpDownBars is above 0 go only short and when UpDownBars is below 0 go only long.

Inputs:

  • UpDown_Period = 20 // period for calculation UpDown bar indicator
  • Average_Period = 10 // period for calculation Moving Average on indicator
  • Average_Method = Simple // method of Moving Average
UpDownBars_indicator_MetaTrader4.png
Author
Salvador
Downloads
2
Views
86
First release
Last update
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