It is used in combination with the other indicators and prompts exit points on short-term trend trading.
- Internal closing (gray line) indicates closing which is located within the range of the previous bar. The series of such closings speak of “creeping” or horizontal movement. The longer the series, the more likely for a breakthrough, respectively, define the point (points) of entry using the other instruments.
- External/net closing (purple line) is a closing located above high and below low of the previous bar. Usually the series of the external closings include 3-5 bars and speak of either flat will run, or the price reverse.
- Single direction closing (blue line) is a current bar which closes in the same direction as the previous bar. The appearsance of such series speaks that short-term trend is terminated.
- Each line’s value is the number of bars in the corresponding series.
MT5 Indicator – Download Instructions
CloseSeries is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
CloseSeries 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 CloseSeries.mq5?
- Download CloseSeries.mq5
- Copy CloseSeries.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on CloseSeries.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator CloseSeries.mq5 is available on your Chart
How to remove CloseSeries.mq5 from your Metatrader 5 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
Click here below to download MT5 Indicator: