Bounce Strength Indicator (BSI) shows the strength of bounce. It now works in trend and uses Tango Line calculations.
There is no difference in the basic concept, but I tried to remake it from a different angle.
I used the width of the range as a measure to measure (like a classical oscillator). This version does not use the width of the range. It uses the deviation from the center line instead. And the center line is the moving average of the Tango Line.
double ratio=0;
//— Bar Spread
double sp=(high[k]-low[k]);
//— Not DownBar
if(!(close[k-1]-sp*0.2>close[k]))
{
ratio=-1*(low[k]/TangoMaBuffer[k])+2;
sumpos+=(close[k]-low[k])*ratio;
}
//— Not UpBar
if(!(close[k-1]+sp*0.2
[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on [post-title].mq4
- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download below:
Bounce Strength Indicator 2.0 with Tango Line
