5 Bars Indicator For MT4

5 Bars Indicator For MT4

The 5 Bars Indicator For MT4 helps the traders to find the critical buying and selling point. The indicator works based on fractals mark. When you spot a bearish or red arrow at the top of the candle, short the pair. On the contrary, when you spot a bullish or blue arrow at the bottom of the candle, execute the long trade.

FREE 5 Bars Indicator

Download the FREE 5 Bars Indicator for MT4.

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Installing the 5 Bars Indicator For MT4

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file 5_bar_reversal_v0s1u71e_5.mq4 into the folder MQL4\Indicators of your MT4 installation. After that please restart MT4 and then you will be able to see the indicator in the list of indicators.

Parameters of the 5 Bars Indicator For MT4

The 5 Bars Indicator For MT4 has 0 parameters to configure.

Buffers of the 5 Bars Indicator For MT4

The 5 Bars Indicator For MT4 provides 2 buffers.

SetIndexBuffer(0,ExtMapBuffer1);
SetIndexBuffer(1,ExtMapBuffer2);

Main Parts Of The Code

int start()
  {
   int    counted_bars=IndicatorCounted();
//---- 
   for(int i=1  ;i lt =500;i++)
     {
      Comment (i);
      shigh=High[Highest(NULL, 0,2,5,i)];
      slow=Low[Lowest(NULL,0,1,5,i)];
      sclose=Close[i];
      fhigh=High[Highest(NULL, 0, 2, 5, (i+5))];
      flow=Low[Lowest(NULL,0,1,5,(i+5))];
      fclose=Close[i+9];
      //ExtMapBuffer2[i+5]=High[i]+0.0005;
      //ExtMapBuffer1[i]=High[i]+0.0005;
      if ((shigh gt fhigh) && (sclose lt flow))
        {
         ExtMapBuffer1[i+5]=High[i+5]+0.0005;
         // if (i==500)Alert ("5Bar Reverse  S E L L ", Symbol()," M",Period());
        }
      if ((slow lt flow) && (sclose gt fhigh))
        {
         ExtMapBuffer2[i+5]=Low[i+5]-0.0005;
         //  if (i==500) Alert ("5Bar Reverse  B U Y ", Symbol()," M",Period());
        }
      //     Comment(Close[i+4]+" "+" "+DoubleToStr(i,1)+"  "+TimeToStr(Time[i],TIME_MINUTES)+
      //     "
"+" "+shigh+" "+slow+" "+sclose+
      //     "
"+" "+fhigh+" "+flow+" "+fclose);
     }
//----
   return(0);
  }
//+------------------------------------------------------------------+

 

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