The simplest moving-like indicator. The formula for the calculation:
PLdot = SMA(Period=3, (High[bar] + Low[bar] + Close[bar]) / 3)
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 31.05.2008.
MT5 Indicator – Download Instructions
PLdot is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
PLdot 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 PLdot.mq5?
- Download PLdot.mq5
- Copy PLdot.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 PLdot.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator PLdot.mq5 is available on your Chart
How to remove PLdot.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: