FOREX TRADING COACHES - MDC (MARKET DIRECTION CHANGE)

MDC

The MDC indicator displays information based upon M2 highs and lows.  Every time price creates an M2 swing high or low (a high with two lower candle highs on each side of it or a low with two higher candle lows on each side of it), then the indicator draws a gray arrow.  Whenever live price passes a previous gray arrow, the indicator paints a green arrow.  The green arrows indicate that price has broken a prior M2 high or low, and that could mean a false breakout or an actual breakout is occurring.

Parameters

(Click here for more info about parameters)

daysToDisplay=7
minNoOfCandles=30
m2ArrowColor=DimGray
m2ArrowSize=0
mdcArrowColor=Lime
mdcArrowSize=0
highArrowCode=233
lowArrowCode=234
mdcUpArrowCode=233
mdcDownArrowCode=234

daysToDisplay

Controls the number of days back that the indicator will calculate.  This conserves CPU resources.  If you need to see the indicator back for an entire year, then set this value to 365.  If you have this value set too high for many simultaneously open chart windows, you could severely impact the performance of your trade station, or even cause it to freeze up.

minNumberOfCandles

If the daysToDisplay translates to an insignificant number of candles, then this parameter will override.  For example, if you have daysToDisplay set at 7 but are looking at a daily chart, then you would only see the indicator for 7 candles.  However, since this parameter overrides, you will see the indicator for at least 30 candles on the daily chart.

m2ArrowColor

Controls the colors of the M2 arrows, which are DimGray by default

m2ArrowSize

Controls the size of the M2 arrows.  Setting this value to a number greater than 0 will make the arrows bigger.

mdcArrowColor

Controls the colors of the MDC arrows, which are Lime by default

mdcArrowSize

Controls the size of the MDC arrows.  Setting this value to a number greater than 0 will make the arrows bigger.

highArrowCode, lowArrowCode, mdcUpArrowCode, mdcDownArrowCode

These numbers are how metatrader knows what symbol to use for these different indicator points.  If you wish to change the symbols that are displayed, please look in the help documentation for the MetaQuotes Language Editor and you can find a list of all the different arrow codes that are available.