Technical Indicator

Understanding Linear Regression Value for MetaTrader 5: A Trader's Guide

Understanding Linear Regression Value for MetaTrader 5: A Trader's Guide

Back in the day, traders and coders were on a mission to squeeze every drop of efficiency out of their code. One standout example of this is the optimization of the linear regression calculation. A coder known as 'mathemat' (please correct me if I'm mistaken!) developed a simplified formula for calculating the linear regression value: 3 * LWMA - 2 * SMA. Both the LWMA (Linear Weighted Moving Average) and SMA (Simple Moving Average) can be optimized into what we call 'loop-less mode.' This approach has been widely adopted as it yields accurate results. However, this method does miss out on some key intermediate values that the traditional linear regression calculation provides: Linear Regression Intercept Slope of the Linear Regression Line So, while we've got a different way to calculate linear regression that is optimal (thanks to that 'loop-less mode'), it’s important to note that it also includes both the intercept and slope.

Mastering the Tick RSI Adaptive Indicator for MetaTrader 5

Mastering the Tick RSI Adaptive Indicator for MetaTrader 5

Unlock the Power of the Tick RSI Adaptive Indicator If you're diving into the world of trading with MetaTrader 5, you might want to check out the Tick RSI Adaptive Indicator. This nifty tool calculates an Adaptive RSI using tick data and seamlessly integrates it with both fast and slow moving averages in a dedicated window. Originally a throwback to an MT4 indicator from 2008 developed by Rosh at Trend Laboratory, this version enhances your trading experience by utilizing the default RSI that comes bundled with MT5. What’s great about this indicator is how it essentially “transforms” the traditional RSI into a more dynamic tool by incorporating tick calculations for both slow and fast moving averages. Here’s a quick comparison to help you visualize the differences: In the above chart, the green line represents the tick price plot, while the blue line depicts the fast RSI, and the red line illustrates the slow RSI. With the Tick RSI Adaptive Indicator, you have the flexibility to customize calculation periods, choose your preferred moving average types, and adjust visual settings to suit your trading style.

Unlocking the Power of Multi-Timeframe Moving Averages for MetaTrader 5

Unlocking the Power of Multi-Timeframe Moving Averages for MetaTrader 5

Exploring MovingAverages.mqh Part II If you're looking to elevate your trading game, the MovingAverages.mqh Part II is definitely worth checking out. This handy tool offers a multi-timeframe version complete with color coding to help you easily gauge market trends. It’s a fantastic resource for both developers and savvy traders, and the best part? It’s available for free. Whether you’re a seasoned pro or just starting out, having the right indicators can make all the difference. This version not only enhances your analysis but also helps you stay on top of the market dynamics. Plus, there are plenty of other multi-timeframe indicators you can explore to complement your trading strategy.

Understanding the Root Mean Square (RMS) Indicator for MetaTrader 5

Understanding the Root Mean Square (RMS) Indicator for MetaTrader 5

Hey traders! I was on the hunt for a standalone function or indicator for the Root Mean Square (RMS) and, lo and behold, I couldn't find one. So, I decided to create it myself and share it with all of you! The RMS (Root Mean Square) value is determined by squaring the values, averaging those squared values, and then taking the square root of that average. This method is particularly useful when analyzing waveforms, especially in electrical engineering. Also known as the quadratic mean, represented as 𝑀2, this calculation has its place in various trading strategies. Things to keep in mind if you’re looking to use RMS: I’ve noticed some traders implementing the Quadratic Mean as a moving average, but often overlook comparisons to other averages. It’s important to note that RMS or Quadratic Mean equates to the SMA (Simple Moving Average) when applied to a dataset that consists only of zero or positive values. However, if there’s even a single negative value in your dataset, the outcome will be skewed. This is due to the way the formula is constructed, making it unsuitable as a regular moving average without that restriction. So, there you have it! The RMS indicator can be a valuable tool for your trading toolkit, just remember to use it wisely!

Unlock the Power of Moving Averages: A Comprehensive Guide for MetaTrader 5

Unlock the Power of Moving Averages: A Comprehensive Guide for MetaTrader 5

Moving Averages.mqh Part I If you're trading on MetaTrader 5, you've likely heard of Moving Averages, and for good reason! This essential tool helps traders identify trends and make informed decisions. In this first part of our series, we'll dive into the MovingAverages.mqh script that brings a multi-timeframe approach to your trading strategy. This version not only shows you the Moving Averages across different timeframes but also comes with customizable colors for easy orientation. It’s perfect for both developers looking to enhance their trading systems and traders aiming to boost their profitability. Best of all, it's available for free under certain conditions. So, why not give it a try and see how it can fit into your trading toolkit? But that’s not all! We also have other multi-timeframe indicators at your disposal, ensuring you have a robust set of tools to work with.

How to Set Price Alerts on MetaTrader 5: A Comprehensive Guide

How to Set Price Alerts on MetaTrader 5: A Comprehensive Guide

If you're trading on MetaTrader 5, you know how crucial it is to stay on top of market movements. That's where this nifty price alert indicator comes into play! It reacts to your mouse clicks and keyboard commands, allowing you to set alerts for prices that the market hasn't hit yet. This feature is a game-changer for keeping track of key levels and validating your trading theories. Setting Up Your Price Alerts Here's how to get started: Once you've loaded the indicator onto your chart, you can configure it for either a bullish or bearish alert, depending on what you're looking for. Don’t forget you can change the timezone for your alerts! The default is GMT+3, but you can switch it up to GMT, GMT+1, or GMT+2. Choose your alert type: you can set a basic alert that pops up on your screen, a push notification for your MT5 mobile app, or even an email alert to keep you in the loop. To create an alert, simply left-click on the chart at the price level where you want the alert set. It's as easy as that! Once you've clicked, the alert will be locked in place. If you want to move the alert, just hit the up arrow key on your keyboard. This will unlock the alert, allowing you to click on a new position on the chart to reposition it. To reset the alert, open the indicator window again, select your bullish or bearish preference, press the up arrow key to unlock it, and then click on the chart to lock your alert in its new position. Why Use Price Alerts? Your alerts will trigger when the price crosses a future expected price. The goal is to validate your market assumptions and keep you ahead of the game. While similar alerts exist on TradingView, this functionality isn't available on MetaTrader—until now! Update Alert With the updated version (1.01), you no longer need to specify whether your alert is bearish or bullish. The indicator automatically focuses on the price crossover, making it even simpler to use. If you find this tool helpful, consider showing your appreciation with a small donation! Donate here

Understanding Geometric Moving Average: A Trader's Guide for MetaTrader 5

Understanding Geometric Moving Average: A Trader's Guide for MetaTrader 5

Hey fellow traders! Today, we're diving into the world of the Geometric Moving Average (GMA) and how it can enhance your trading strategy on MetaTrader 5. So, what exactly is the geometric mean? In simple terms, it's a type of average that helps us find the central tendency of a set of numbers by multiplying their values together, rather than adding them up like the arithmetic mean. This can be particularly handy when dealing with values that are meant to be multiplied or that grow exponentially over time. For instance, think about measuring growth rates—like the human population or the interest rates on your investments. The GMA shines in situations where you're looking at proportional growth or comparing different rates. It's especially useful for calculating speeds and ratios, as it gives a more accurate picture of performance. For example, if you average a rate of 0.5x (half speed) and 2x (double speed), the arithmetic mean might lead you to think there's no net change. However, the geometric mean gives you a clearer view of growth. The GMA is also closely tied to what's known as the Compound Annual Growth Rate (CAGR), which is a fancy term for the average rate at which an investment grows over a period of time. This is particularly useful for traders looking to understand how their assets are performing over the long haul. Check out these images below to see how the Geometric Moving Average looks in action: Whether you're a seasoned trader or just starting out, understanding the GMA can give you an edge in the markets. So, keep it in your toolkit as you navigate your trading journey!

Enhance Your Trading with Custom Bollinger Bands for MetaTrader 5

Enhance Your Trading with Custom Bollinger Bands for MetaTrader 5

Hey fellow traders! If you've been looking for a way to spice up your trading strategy, I’ve got something special for you. I've developed a custom Bollinger Bands indicator specifically for MetaTrader 5 that goes beyond the standard moving average methods. While the default options only allow for the 'simple' moving average, my version brings additional flexibility to the table. With this custom indicator, you can choose from various moving average methods like Exponential, Smoothed, and Linear Weighted. So, if you want to tailor your Bollinger Bands to fit your trading style, this is the tool for you! To get started with this indicator, you’ll need to install it in your MetaTrader 5 directory. Here’s how: C:\Users\YourUsername\AppData\Roaming\MetaQuotes\Terminal\Indicators\Examples Here are some of the added features you can expect: By default, the settings are configured to zero: Here’s a sneak peek of the indicator in action, using the Linear Weighted average:    Now, let's dive into the code for those who want to explore the technical side: //+------------------------------------------------------------------+ //| Custom Bollinger Bands Indicator | //| Developed by Lucas Vidal | //+------------------------------------------------------------------+ #property copyright "Lucas Vidal" #property link "https://www.mql5.com/en/users/lucasmoura00" #property description "Custom Bollinger Bands Indicator" #include <MovingAverages.mqh> //--- indicator properties #property indicator_chart_window #property indicator_buffers 4 #property indicator_plots 3 #property indicator_type1 DRAW_LINE #property indicator_color1 LightSeaGreen #property indicator_type2 DRAW_LINE #property indicator_color2 LightSeaGreen #property indicator_type3 DRAW_LINE #property indicator_color3 LightSeaGreen #property indicator_label1 "Middle Bands" #property indicator_label2 "Upper Bands" #property indicator_label3 "Lower Bands" //--- input parameters enum MovingAverageMethod {     Simple, // 0     Exponential, // 1     Smoothed, // 2     LinearWeighted // 3 }; input MovingAverageMethod InpMaMethod = Simple; // Moving Average Method input int InpBandsPeriod=20; // Band Period input int InpBandsShift=0; // Band Shift input double InpBandsDeviations=2.0; // Deviation //--- global variables int ExtBandsPeriod, ExtBandsShift; double ExtBandsDeviations; int ExtPlotBegin=0; //--- indicator buffers double ExtMLBuffer[]; double ExtTLBuffer[]; double ExtBLBuffer[]; double ExtStdDevBuffer[]; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ void OnInit() {    // Initialization code here } //+------------------------------------------------------------------+ Feel free to dive into the code and tweak it to your liking! If you have any questions or need assistance, don’t hesitate to reach out. Happy trading!

Mastering Manual Backtesting: Your Go-To Bar Replay Simulator for MetaTrader 5

Mastering Manual Backtesting: Your Go-To Bar Replay Simulator for MetaTrader 5

Hey fellow traders! If you're diving into manual backtesting, I've got a nifty little tool for you—a simple indicator designed to make your life easier. This backtest bar replay simulator for MetaTrader 5 allows you to navigate your charts like a pro. To get started, just add the indicator to your chart and create a Vertical Line object named "VL." Once you've done that, you're all set! Simply drag the Vertical Line (VL) to start hiding bars with ease. Need to shift things around? No problem! You can move the line left or right across the chart, and it will automatically hide the bars on the right side. This feature is a game changer when it comes to focusing on specific price action. For an extra boost, hold down the CTRL key while moving the line. This will shift the bars one step to the right, making your backtesting process even smoother. Happy trading and backtesting!

Enhance Your Trading with a Refined RSI Indicator for MetaTrader 5

Enhance Your Trading with a Refined RSI Indicator for MetaTrader 5

The Relative Strength Index (RSI) has been a go-to indicator for traders for ages, and it still packs a punch today. However, one of the main drawbacks is that it can be prone to market noise, leading to plenty of false signals. This enhanced version of the RSI keeps the core concept of measuring momentum but fine-tunes it to ensure that you’re only getting the clearest market movements. When using this indicator, treat it just like you would a standard RSI. Keep an eye out for divergences, trade based on upward or downward shifts in the indicator, or wait for those crucial oversold or overbought zones. Here are some tips to get you started: Feel free to tweak the Signal Period and Rate of Change Period to fit your trading style. Make sure to backtest thoroughly before you jump into live trading. Always manage your risk effectively.

Mastering the Confluence Detector for MetaTrader 5: A Trader's Guide

Mastering the Confluence Detector for MetaTrader 5: A Trader's Guide

Hey fellow traders! Today, I want to dive into a nifty tool that can help elevate your trading game—the Confluence Detector for MetaTrader 5. Check out the image below: This indicator plots three lines on your chart. It automatically detects the current period and allows you to set up two additional periods for comparison. This feature is crucial for understanding how different timeframes align. If you notice that the price movements on the selected timeframes aren’t in sync, the lines will start to drift apart. This divergence indicates a lack of confluence between those timeframes, which is a signal you might want to avoid trading during that period. When the lines are in harmony, it’s generally a good sign that the market is showing strength, making it a more favorable time to enter a trade. Here’s what each plot represents: First Plot: A line chart of the closing prices for the current period. Second Plot: The deviation of the first input timeframe compared to the current period. Third Plot: The deviation of the second input timeframe compared to the current period. Check out the second image below for a clearer view of these plots: In summary, using the Confluence Detector can help you make more informed trading decisions by identifying when multiple timeframes are aligned. Keep this tool handy, and watch how it can improve your trading strategy!

Mastering the Counter Attack Candlestick Pattern in MetaTrader 5

Mastering the Counter Attack Candlestick Pattern in MetaTrader 5

If you’re diving into the world of trading, one candlestick pattern you definitely want to have in your toolkit is the Counter Attack Candlestick. This nifty pattern can give you some solid insight into market reversals. So, what’s the deal with the Counter Attack pattern? Here’s a quick rundown: Formation: This pattern occurs when a strong bearish candlestick is followed by a bullish candlestick that opens below the low of the previous day but closes above its midpoint. Significance: It’s a strong indicator that buyers are stepping in after sellers have taken control, hinting at a potential reversal. Trading Strategy: Look for this pattern near key support levels or after a significant downtrend. It can be a great signal to enter a long position. Understanding these patterns and how to spot them can really give your trading the edge it needs. So, keep an eye out for those Counter Attack candlesticks—they might just lead you to your next successful trade!

Understanding the Dominant Candle Indicator for MetaTrader 5

Understanding the Dominant Candle Indicator for MetaTrader 5

The Dominant Candle is a powerful two-candlestick pattern where the wicks intersect with each other's body area. The bodies of these candles can either be gapped up, gapped down, or aligned. This indicator is often utilized to confirm trends following periods of consolidation, helping traders make informed decisions.

Understanding Logarithmic Moving Averages for MetaTrader 5

Understanding Logarithmic Moving Averages for MetaTrader 5

Hey fellow traders! Today, let's dive into something a bit different — the Logarithmic Moving Average (LMA) and how it can be a game-changer in your trading strategy on MetaTrader 5. So, what exactly is a Logarithmic Moving Average? In simple terms, it’s a type of average that gives more weight to recent prices than older ones, helping you spot trends more effectively. It's particularly useful in volatile markets where prices can swing wildly. Why Use Logarithmic Moving Averages? Trend Identification: LMA helps traders identify the underlying trend more accurately by smoothing out price fluctuations. Signal Generation: It can signal potential buy or sell opportunities based on the direction of the average. Adaptability: This indicator can be customized to suit your trading style, whether you're a day trader or a long-term investor. Here’s a quick visual to help you understand how it looks in practice: To wrap it up, using a Logarithmic Moving Average in your trading toolkit can provide you with valuable insights and help enhance your decision-making process. Whether you use it as is or tweak it to fit your trading style, it’s worth giving it a try! Happy trading!

Understanding the Harmonic Moving Average for MetaTrader 5

Understanding the Harmonic Moving Average for MetaTrader 5

If you’re diving into the world of trading, you’ve probably stumbled upon various indicators that help you make informed decisions. One such indicator that’s been gaining traction is the Harmonic Moving Average (HMA). In this post, we’ll break down what the harmonic mean is and how it can enhance your trading strategy. What Is the Harmonic Mean? The harmonic mean is a unique way to calculate an average, especially useful when dealing with rates or ratios. In simple terms, you find it by dividing the number of entries in your data set by the sum of the reciprocals of those entries. So, instead of just averaging numbers like you would with the arithmetic mean, the harmonic mean focuses on the relationship between them. Imagine you have a series of values, let’s say the prices of a stock over a week. The harmonic mean gives you a more accurate representation when those prices vary widely, especially when you’re dealing with rates. This can be particularly beneficial in trading, as it helps smooth out price fluctuations and provides a clearer view of market trends. As you continue to explore trading tools, consider integrating the Harmonic Moving Average into your strategy. It can offer valuable insights and help you make more informed decisions. Happy trading!

Master Forex Trading with the iForexSessions Indicator for MT5

Master Forex Trading with the iForexSessions Indicator for MT5

Unlocking the Forex Market with the iForexSessions Indicator Keep track of Forex market sessions like a pro! The iForexSessions indicator is designed for traders who want to stay ahead of the game. It highlights local trading hours for major Forex markets, ensuring you never miss a beat. The typical trading hours are from 8:00 AM to 5:00 PM in most regions, with Sydney’s hours slightly varying from 7:00 AM to 4:00 PM or 9:00 AM to 6:00 PM. Key Features: Displays colored rectangles for each Forex market session: Sydney, Tokyo, London, and New York. Provides accurate session times for Forex pairs and gold charts. Note that Forex trading kicks off at 5:00 PM NY time, while gold trading starts an hour later. Adjusts for GMT offsets and daylight savings based on your broker's server settings and time zones. Utilizes the TimeZoneInfo library for precise time calculations. Includes an additional broker clock in the lower-left corner with helpful info: Server time Broker's GMT offset Time remaining until the weekend (perfect for managing open trades) Status of time synchronization for your local computer, with a helpful link to check your PC time here. Need to debug? Just hold down 'Ctrl' and hover over a chart bar to see the bar number and time, along with corresponding times in the major Forex markets displayed right on your chart. Input Parameters: Parameter: "Load XAUUSD symbol for estimation of the server's TZ/DST" This setting allows the indicator to load the XAUUSD symbol to estimate your broker's timezone offset accurately. This is especially useful during weeks when US and EU daylight saving times are out of sync. If your broker follows the US DST schedule or doesn’t follow any schedule, you can set this to 'false' to use the current chart's symbol instead. To find out your broker's daylight saving time schedule, you can use this script: DST Schedule Script. Note: If you set the XAUUSD loading to TRUE, remember that DST switches may occur an hour later in the strategy tester. Bonus Feature: Debugging made easy! Hold down 'Ctrl' and hover over a chart bar to display the bar number and its time, along with corresponding times in major Forex markets. To clear the debug info, just click anywhere on the chart without holding 'Ctrl'. Explore Other Market Session Indicators: Market_Sessions i-Sessions Trading Sessions Open - Close Forex Market Sessions Identification Keep in mind that many indicators use fixed timezone offsets and ignore daylight saving adjustments on the broker's server, which can lead to inaccuracies. The iForexSessions indicator addresses this issue by adapting to changes in trading schedules throughout the year. Broker Compatibility: The iForexSessions indicator has been tested and confirmed to work with several brokers, including: Admirals Markets FxPro RannForex EXNESS FXOpen IC Markets Octa Markets Tickmill XM Global This indicator is also likely to function correctly with other brokers. Note about Compatibility with Strategy Tester In the strategy tester, TimeGMT() aligns with TimeTradeServer() to simulate server time accurately. The TimeZoneInfo library provides the proper time adjustments based on historical H1 quotes, rather than relying solely on the built-in TimeGMT function. If you opt to load the XAUUSD symbol, be aware that DST switches might happen an hour later during testing.

Mastering Slope Entry Points: A Must-Have Indicator for MetaTrader 5

Mastering Slope Entry Points: A Must-Have Indicator for MetaTrader 5

If you're trading on MetaTrader 5, you might want to check out the Slope Entry Points indicator. This handy tool is designed to enhance your trading strategy by utilizing a basic slope moving average combined with a unique cloud feature. The Slope Entry Points indicator provides two types of signals to help guide your trades: Preparing Signal: Indicated by a dot, this signal hints that the market is gearing up for a potential move. Entry Signal: Shown as an arrow, this is your cue to enter a trade based on the indicator's analysis. By incorporating the Slope Entry Points indicator into your trading toolkit, you'll have a clearer view of market movements and a better chance of making informed trading decisions. Remember, having the right tools can make all the difference in your trading success!

Understanding Wick vs. Body High-Low Indicators for MetaTrader 5

Understanding Wick vs. Body High-Low Indicators for MetaTrader 5

If you're looking to enhance your trading strategy on MetaTrader 5, understanding the difference between Wick and Body High-Low indicators is crucial. These indicators can help you identify potential price reversals and key support and resistance levels. Wick-Based High Example Body-Based High Example Using these indicators effectively can give you an edge in your trading decisions. Whether you prefer focusing on the wick or the body, knowing how to read these signals is vital for your success in the market.

Master Intraday Currency Performance with MetaTrader 5

Master Intraday Currency Performance with MetaTrader 5

Get a Clear View of Individual Currencies Hey there, fellow traders! If you're looking to enhance your trading game, the Intraday Currency Performance indicator for MetaTrader 5 is a must-have tool. It's a straightforward yet powerful way to keep an eye on how individual currencies are performing throughout the day. With this indicator, you can easily customize your experience. Want to tweak the line color, line width, or font size? No problem! It’s all about making the data work for you. By default, the trading day starts at 00:00, but don't worry—you can adjust the start time to fit your trading style. Whether you’re a night owl or an early bird, you can set it up just the way you like. Now, let’s talk about how to interpret the data. For instance, if the Euro (EUR) is up by +1% while the US Dollar (USD) dips by -0.50%, the EUR/USD currency pair is effectively showing a performance of +1.50%! This simple calculation (1 - (-0.50%)) can help you spot trends and make informed decisions on your trades. So, if you're serious about maximizing your profits, give this indicator a spin. It’s user-friendly and gives you the insights you need to navigate the forex market like a pro!

Unlock Your Trading Potential with the SAR ADX Indicator for MetaTrader 5

Unlock Your Trading Potential with the SAR ADX Indicator for MetaTrader 5

If you’re a trader looking to enhance your strategy, the SAR ADX Signal indicator for MetaTrader 5 might just be the tool you need. This handy indicator comes with mobile notifications, ensuring you never miss a trading opportunity, even on the go. Originally a feature of the MT4 version, this updated SAR ADX Signal is designed to help you make informed decisions. However, a word of caution: it’s a repaintable indicator. So, use it wisely and be sure to double-check your signals! Check out the indicator here: Download SAR_ADX_Signal.mq5

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