Modified Advance Decline line indicator is a modified ADL (Advances/Declines Line) trend indicator. It compares the difference between symbol chart increase and decrease moments within a certain time period. The indicator determines a trend strength for detecting market reversals as well. The calculation is performed considering tick volumes.
It has one configurable parameter:
- Period – calculation period
MADL = PrevMADL + (2.0*Close-High-Low) / (High-Low) * (Volume+MA)
MA – SMA(Volume, Period)
MT5 Indicators – Download Instructions
Modified Advance Decline Line MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Modified Advance Decline Line MT5 Indicator 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.
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How to install Modified Advance Decline Line MT5 Indicator.mq5?
- Download Modified Advance Decline Line MT5 Indicator.mq5
- Copy Modified Advance Decline Line MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Modified Advance Decline Line MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Modified Advance Decline Line MT5 Indicator.mq4 is available on your Chart
How to remove Modified Advance Decline Line MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download: