MetaTrader 5 β€£ MT5 Indicators β€£ Confluence Detector – indicator MetaTrader 5

Confluence Detector – indicator MetaTrader 5

The indicator draws three line plots on the chart. It detects the current period, and you assign two other periods in the input which should compare to the current period.


Inputs


If the price is not moving in the same direction on the other timeframes you selected, the lines will deviate from each other and this shows that there is a lack of confluence between those timeframes.

When the lines move apart, it can be a signal to avoid trading during that time. It is safer to trade when there is confluence between multiple timeframes.


Plots


First plot is a line chart on the closing prices of the current period.

Second plot is the deviation of 1st input timeframe to current period.

Alternative:   Library of functions for working with INI-files. - library MetaTrader 4

Third plot is the deviation of 2nd input timeframe to current period.


I hope you like this indicator.

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