The indicator calculates the distance from the market entry price to the highs and lows displaying the quartiles deviation.
- The first green line (counting from bottom to top) shows how high the price was raised in 75% (Quartile_3) of cases from the sample, the second green line shows the same in 50% (Quartile_2) of cases, the third one – 25% (Quartile_1), the fourth one – the maximum deviation.
- The first red line (counting from top to bottom) shows how low the price dropped in 75% (Quartile_3) of cases from the sample, the second red line shows the same in 50% (Quartile_2), the third one – 25% (Quartile_1), the fourth one – the maximum deviation.
These lines help in defining price movement targets beginning from a bar opening price. The author suggests using the indicator with the timeframes no less than the daily one.
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 13.01.2011.
MT5 Indicator – Download Instructions
LeMan Objective is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
LeMan Objective 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 LeMan Objective.mq5?
- Download LeMan Objective.mq5
- Copy LeMan Objective.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 LeMan Objective.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator LeMan Objective.mq5 is available on your Chart
How to remove LeMan Objective.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: