Directional Breakout MT5 Indicator

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Informational indicator. It displays a histogram in different colors, depending on the ratio between the candlestick prices and the moving average.

There are three adjustable parameters:

  • MA Period – MA calculation period;
  • MA Method – Moving Average calculation method;
  • Applied price – price used for calculations.

Calculation:

If Low > MA:
MA > PrevMA = color 1
MA < PrevMA = color 2
If High < MA:
MA < PrevMA = color 3
MA > PrevMA = color 4
Otherwise = color 5

where:

MA is the moving average with the Period, by Method, and at Applied price
PrevMA - moving average on the previous bar

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Directional Breakout MT5 Indicator

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