Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
The Winner of Balance indicator is based on the author's method of detecting market sentiment. designed to understand what the mood is in the market, who wins-bears or bulls.
Input parameters:
1. Settings for setting levels:
1.1. ATR Period - the period of the standard ATR indicator
1.2. K Lower Order, ATR-coefficient for setting the lower threshold in ATR (hotpink color)
1.3. KUpper Border, ATR - coefficient for setting the upper threshold in ATR (the Aqua color)
2. Settings for calculation of power lines:
2.1. Period analysis - the period of consideration of the balance line, bars
2.2. Period of Line Balance - the period of the balance line itself.
Line (color palegreen) - the power line of the balance of the bulls - if it is higher than the power line of the bears (color Salmon), then the bulls win. Conversely, if lower, the bears win...
Histogram - the difference between the power lines of bulls and bears.
Thresholds in the ATR are used to determine the strength of the signals being sent.
The dimension of the indicator is points.
