This code represents a custom indicator called the Bulls and Bears Composite Indicator. It is designed to enhance the visualization of forex trading by calculating and displaying the cumulative values of bullish and bearish movements in the market.
The indicator is developed by the Forex Robot Easy Team and is copyright protected by them. For detailed reviews and trading results of this product, you can visit forexroboteasy.com.
- Period: The period for the Bull-Bear Indicator. This parameter determines the number of previous bars to consider when calculating the indicator values.
The indicator displays two lines on the chart:
- Blue line: Represents the cumulative bullish movement in the market.
- Red line: Represents the cumulative bearish movement in the market.
To use this indicator, follow these steps:
- Install the indicator on your MT4 platform.
- Apply the indicator to the desired currency pair and timeframe.
- Interpret the indicator lines:
- When the blue line is above the red line, it indicates bullish market conditions.
- When the red line is above the blue line, it indicates bearish market conditions.
- The magnitude of the lines represents the strength of the respective market sentiment.
Please note that Forex Robot Easy is not the official developer of this product. We are only providing a sample code that can work as described in the product. For the official developer of this product, please refer to MQL5.
For more information and to access detailed reviews and trading results of this product, please visit forexroboteasy.com.