MetaTrader 5 β€£ MT5 Indicators β€£ BW-ZoneTrade – indicator MetaTrader 5

BW-ZoneTrade – indicator MetaTrader 5

The idea of this indicator has been proposed by Bill Williams in his book “New Trading Dimensions: How to Profit from Chaos in Stocks, Bonds and Commodities”.

It shows the “fourth dimension” of the market – it paints the bar charts with different colors (green, grey and red) depending on the current market momentum (1st derivative) and price acceleration (2nd derivative), which calculated by Awesome Oscillator (AO) ΠΈ Accelerator Oscillator (AC).

Bill Williams-ZoneTrade indicator

BW-ZoneTrade indicator

Calculation:

  • if АБ and АО are green, it means the green zone;
  • if АБ and АО are red, it means the red zone;
  • if АБ and АО have different colors, it means the grey zone.
Alternative:   Fib_SR_6 - indicator MetaTrader 5


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