Skip to content
All library documents

Advanced Line Chart: Tracking Trend Direction from Candles

Article MQL5 code base
Read the original

Summary

The document describes a line chart intended to follow the main direction of price movement using Japanese candlestick data. When the trend is rising, the line stays nearer each candle’s high; when the trend is falling, it stays nearer the low. This makes the line a price-derived trend representation rather than a conventional close-only plot.

The text also suggests using the line to plot moving averages or as an input for other indicators. It provides no calculation formula, parameter settings, chart examples, testing results, or rules for entering and exiting trades. As a result, the exact construction and behavior cannot be independently reproduced from this description alone. The line may help visualize direction, but the document gives no evidence that it predicts future prices or improves trading performance.

Key ideas

  • The line is calculated from Japanese candlestick data to represent the broad direction of a trend.
  • In an uptrend, it is positioned closer to candle highs, while in a downtrend it is closer to candle lows.
  • The line can be used to display moving averages or serve as a basis for other indicators.
  • The document provides no formula, parameters, or performance evidence for the indicator.

Tags

Technical indicatorsTrend following

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.