In essence, it implements the idea of visual interpretation of the state of the fourth dimension of the Chaos Theory by B. Williams – Zone.
Information on the Chaos Theory in general and the on logic of determining its state in particular can be found here.
In short, the state of the zone is determined based on the values of two indicators: Awesome Oscillator and Acceleration/Deceleration. Both are included in the standard package of the MetaTrader (Insert – Indicators – B. Williams).
When the driving force (Awesome Oscillator — AO) and acceleration (Acceleration/Deceleration — AC) are in the same direction (both green or both red) — it means that the driving force not only moves in that direction, but also accelerates.
If the current AC and AO columns are green, this indicates the green zone. For clarity, this bar can be colored in green.
If the current AC and AO columns are red, this indicates the red zone. For clarity, this bar can be colored in red.
If the AC and AO columns have different directions, the bar is colored in gray (gray zone).
MT4 Indicators – Download Instructions
BW-Zone is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
BW-Zone 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 BW-Zone.mq4?
- Download BW-Zone.mq4
- Copy BW-Zone.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 BW-Zone.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator BW-Zone.mq4 is available on your Chart
How to remove BW-Zone.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 here: BW-Zone