Silver sen Indicator For MT4
The Silver sen Indicator For MT4 is an indicator for technical traders who like to monitor the ever changing trading ranges of the market - what is great about this indicator is that it uses two methods to form a bi-color channel which has an adjustable width which is 50 to 76.4 percent the size of the overall range within a given time period. The period thereof may be adjusted to whatever extent the trader deems fit to their trading strategy - it is interesting that this indicator uses Fibonacci ratios to formulate its oscillating trading channel which has an upper light blue line and lower navy blue line - using Fibonacci ratios is an intelligent method for plotting this range because this way the trader will have an indicator which is highly relevant and sensitive to the actual price movements. When the trader sees that price is trading way above the upper light blue line what the trader may do is wait for the market to sell off and for the body of the first candlestick to close below the light blue line to execute a day sell trade.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
My Recommended MT4/MT5 Broker
Installing the Silver sen 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 Silver-sen.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 Silver sen Indicator For MT4
The Silver sen Indicator For MT4 has 3 parameters to configure.
extern int SSP=26;
extern int ShiftP=6;
extern double SSK=73.4;
Buffers of the Silver sen Indicator For MT4
The Silver sen Indicator For MT4 provides 1 buffers.
SetIndexBuffer(0,SSP_Buffer);
Main Parts Of The Code
int start()
{
int i,k;
int counted_bars=IndicatorCounted();
double high,low,price;
//----
if(Bars lt =SSP) return(0);
//---- initial zero
if(counted_bars lt 1)
{
for(i=1;i lt =SSP;i++) SSP_Buffer[Bars-i]=0;
}
//---- Silver Sen
i=Bars-SSP;
if(counted_bars gt SSP) i=Bars-counted_bars-1;
while(i gt =0)
{
high=High[i]; low=Low[i]; k=i-1+SSP;
while(k gt =i)
{
price=High[k];
if(high lt price) high=price;
price=Low[k];
if(low gt price) low=price;
k--;
}
SSP_Buffer[i+ShiftP]=low+(high-low)*SSK/100;
i--;
} i=ShiftP-1;
while(i gt =0)
{
high=High[0]; low=Low[0]; k=SSP-ShiftP+i;
while(k gt =0)
{
price=High[k];
if(high lt price) high=price;
price=Low[k];
if(low gt price) low=price;
k--;
}
SSP_Buffer[i]=low+(high-low)*SSK/100;
i--;
}
}
//+------------------------------------------------------------------+
