Technical Indicator - MetaTrader5 (Page 22)

Unlocking Trading Success: The Strongest Pair Indicator for MetaTrader 4

What is the Strongest Pair Indicator? If you're looking to take your trading game to the next level, the Strongest Pair Indicator may just be what you need. This handy tool helps you identify the strongest currency pairs in the Forex market, allowing you to make more informed trading decisions. Why Use the Strongest Pair Indicator? Boost Your Trading Efficiency: By pinpointing the strongest pairs, you can focus your efforts on the most promising opportunities. Stay Ahead of the Curve: This indicator gives you a competitive edge, helping you to react quickly to market movements. Perfect for All Traders: Whether you’re a newbie or a seasoned pro, this tool is user-friendly and integrates seamlessly with MetaTrader 4. How to Get Started To start using the Strongest Pair Indicator, simply download it and install it in your MetaTrader 4 platform. Once it's up and running, you’ll be able to see which currency pairs are making the biggest moves. Remember, while this indicator is a great tool, it’s essential to combine it with solid risk management practices and a sound trading strategy. Happy trading!

2023.04.29

MetaTrader4

Integrate Your MT4/MT5 Indicators with Ofir Blue Telegram API

Have You Created Your Own MT4/MT5 Indicator? Whether it’s for your personal trading or for your clients, we’ve got something exciting for you! For personal use For your clients Add Just 3 Lines of Code to Your MQL4/MQL5 File: Connect your indicator to Telegram Send messages and signals directly to Telegram Trade signals from Telegram Add trading capabilities to your indicator (open, close, and manage positions) Join an amazing trading ecosystem! It’s Just One Indicator Among Many (Including Yours) Attach it to multiple charts (different currency pairs and timeframes) Detect several trading opportunities daily (perhaps even too many!) No trading capabilities on its own The Challenge Notify me about trading opportunities via signals Adapt signals to fit my money management and trading hours Filter signals effectively Execute trades quickly and safely Manage open positions seamlessly Keep me updated on Telegram Add 3 Lines of Code to Your Indicator Include the file OfirBlueAPI.mqh to connect your indicator with Ofir Blue OnInit: Initialize Ofir Blue In the section where you usually draw the signal (like an arrow), call the Ofir Blue method to send it The Result Integration with Ofir Blue is free but currently in beta-testing.

2023.04.20

MetaTrader4

Discover AllAverages v4.9: The Essential Indicator for MetaTrader 4

If you're on the lookout for powerful analytical tools, you've come to the right place! While this AllAverages v4.9 indicator isn't my own creation, it's a gem that's not readily available on the MQL5 forum, which is why I felt compelled to share it here. Personally, I’ve been leveraging various moving average modifications in my trading strategies, and this one has definitely caught my eye. Available Moving Average Formulas SMA: Simple Moving Average EMA: Exponential Moving Average Wilder: Wilder Exponential Moving Average LWMA: Linear Weighted Moving Average SineWMA: Sine Weighted Moving Average TriMA: Triangular Moving Average LSMA: Least Square Moving Average (or EPMA, Linear Regression Line) SMMA: Smoothed Moving Average HMA: Hull Moving Average by A. Hull ZeroLagEMA: Zero-Lag Exponential Moving Average DEMA: Double Exponential Moving Average by P. Mulloy T3_basic: T3 by T. Tillson (original version) ITrend: Instantaneous Trendline by J. Ehlers Median: Moving Median GeoMean: Geometric Mean REMA: Regularized EMA by C. Satchwell ILRS: Integral of Linear Regression Slope IE_2: Combination of LSMA and ILRS TriMAgen: Triangular Moving Average generalized by J. Ehlers VWMA: Volume Weighted Moving Average JSmooth: M. Jurik's Smoothing SMA_eq: Simplified SMA ALMA: Arnaud Legoux Moving Average TEMA: Triple Exponential Moving Average by P. Mulloy T3: T3 by T. Tillson (correct version) Laguerre: Laguerre filter by J. Ehlers MD: McGinley Dynamic BF2P: Two-pole modified Butterworth filter by J. Ehlers BF3P: Three-pole modified Butterworth filter by J. Ehlers SuperSmu: SuperSmoother by J. Ehlers Decycler: Simple Decycler by J. Ehlers eVWMA: Modified eVWMA EWMA: Exponential Weighted Moving Average DsEMA: Double Smoothed EMA TsEMA: Triple Smoothed EMA VEMA: Volume-weighted Exponential Moving Average (V-EMA) Price Options for Moving Averages Close: Close price Open: Open price High: High price Low: Low price Median: Median price Typical: Typical price Weighted Close: Weighted Close Median Body: (Open + Close)/2 Average: (High + Low + Open + Close)/4 Trend Biased: Trend Biased price Heiken Ashi Close: Heiken Ashi Close price Heiken Ashi Open: Heiken Ashi Open price Heiken Ashi High: Heiken Ashi High price Heiken Ashi Low: Heiken Ashi Low price Heiken Ashi Median: Heiken Ashi Median price Heiken Ashi Typical: Heiken Ashi Typical price Heiken Ashi Weighted Close: Heiken Ashi Weighted Close price Heiken Ashi Median Body: Heiken Ashi Median Body Heiken Ashi Average: Heiken Ashi Average price Heiken Ashi Trend Biased: Heiken Ashi Trend Biased price Configuration Settings TimeFrame: Choose your timeframe (default = 0) Price: Select price type (default = 0) MA_Period: Set the averaging period for the moving average (default = 14) MA_Shift: Shift the moving average by a specified number of periods (default = 0) MA_Method: Select your moving average formula (default = SMA) ShowInColor: Enable or disable color rendering (default = true) Number of Bars Counted: Specify how many candles to plot (default = 0 for all) Alerts, Emails & Notifications AlertOn: Enable sound alerts for MA direction changes (default = false) AlertShift: Set the period shift for alerts (default = 1) SoundsNumber: Number of sound alerts (default = 5) SoundsPause: Pause between sound alerts (default = 5 seconds) UpTrendSound: Choose sound file for uptrend alert (default = "alert.wav") DnTrendSound: Choose sound file for downtrend alert (default = "alert2.wav") EmailOn: Enable email notifications (default = false) EmailsNumber: Number of email alerts to send (default = 1) PushNotificationOn: Enable push notifications to your phone (default = false)

2023.04.16

MetaTrader5

Mastering the Exponential Commodity Channel Index for MetaTrader 5

Today, let's dive into the Exponential Commodity Channel Index (CCI), a powerful tool for traders looking to enhance their MetaTrader 5 setup. Unlike the traditional CCI developed by Donald Lambert, this version utilizes exponential moving averages, offering a fresh perspective on market trends. This implementation is designed with flexibility in mind, thanks to its use of conditional compilation. This means it will seamlessly work on both MQL4 and MQL5 platforms. And here’s a heads-up: all the source code from my CodeBase publications is now accessible in the “Public Projects” tab of MetaEditor under the name “FMIC”. So, feel free to check it out! With the right tools in your arsenal, you can navigate the markets more effectively. Happy trading!

2023.04.16

MetaTrader4

Mastering the Exponential Commodity Channel Index for MetaTrader 4

If you're looking to sharpen your trading edge, the Exponential Commodity Channel Index (CCI) is a fantastic tool to consider. Unlike the traditional CCI crafted by Donald Lambert, this version uses exponential moving averages to give you a more responsive indicator. This implementation is designed to work seamlessly on both MQL4 and MQL5, thanks to its conditional compilation. Plus, you can easily find the source code for this tool in the “Public Projects” tab within MetaEditor under the name “FMIC”. So, you’re just a few clicks away from enhancing your trading toolkit! So whether you’re a seasoned trader or just starting out, the Exponential CCI could provide the insights you need to make more informed trading decisions. Give it a try and see how it fits into your strategy!

2023.04.16

MetaTrader5

Unlocking Trading Potential: The Asian Session Highlighter for MetaTrader 5

Hey traders! If you’re looking to enhance your trading strategy during the Asian session, you’re in the right place. Today, I’m excited to share a nifty tool I’ve been using—the Asian Session Highlighter for MetaTrader 5. This is a modified version of the popular i-session indicator by Igor Kim. For those interested in the original code, you can find it here. Here’s what I’ve tweaked: Focused on the Asian Session: This indicator isolates only the Asian trading hours, making it easier for you to spot potential trading opportunities. Customizable Settings: Users can modify settings, including the Asian session time in local time, the color of the highlight boxes, and whether to fill them in or not. Tailor it to your preferences! Simplified Display: I’ve removed the names from the boxes, so it’s cleaner and less cluttered. Easy Cleanup: Once you remove the indicator from the chart, all drawings will disappear, keeping your workspace tidy. Check out how it looks in action: This tool has really helped me sharpen my focus during the Asian session, and I think it could do wonders for you too! Give it a shot and see how it fits into your trading style.

2023.04.08

MetaTrader4

Mastering the Elder Impulse System: A Guide for MetaTrader 4 Traders

Unlocking the Power of the Elder Impulse System If you're looking to elevate your trading strategy on MetaTrader 4, the Elder Impulse System is worth your attention. This powerful indicator helps identify market trends and signals for potential entries and exits. Let’s dive into how it works and why it might be the perfect addition to your trading toolkit. What is the Elder Impulse System? The Elder Impulse System was developed by renowned trader Dr. Alexander Elder. It combines candlestick patterns with a trend-following approach to create a robust trading strategy. Here’s how it breaks down: Trend Identification: The system uses moving averages to determine the overall market direction. Candlestick Analysis: It incorporates specific candlestick formations to confirm entries and exits. Signal Generation: The combination of these elements provides clear buy or sell signals, making decision-making simpler and more effective. Why Use the Elder Impulse System? This system is not just another indicator; it's a comprehensive trading strategy that can enhance your trading performance. Here are a few reasons to give it a shot: Easy to Understand: Even if you’re new to trading, the concepts are straightforward. Visual Clarity: The signals generated are easy to spot on your charts, allowing for quick decision-making. Adaptable: Whether you’re day trading or swing trading, this system can be tailored to fit your style. Getting Started with the Elder Impulse System To get started with this system on MetaTrader 4, you'll need to download the indicator and install it on your platform. Once set up, you can begin analyzing your charts and looking for those vital signals. Remember to backtest your strategy to understand how it performs in different market conditions. In conclusion, the Elder Impulse System is a fantastic tool for traders at all levels. By leveraging its trend-following capability and candlestick signals, you can make more informed trading decisions. Happy trading!

2023.04.02

MetaTrader4

Understanding Weighted Deviation Bands: A Unique Indicator for MetaTrader 4

If you’re familiar with Bollinger Bands, you’re going to love the Weighted Deviation Bands. This indicator takes the classic Bollinger Bands concept a step further by utilizing a linear weighted average and weighted deviation to provide you with more refined trading insights. Curious about how it works? Check out the detailed explanation of weighted deviation here. How to Use Weighted Deviation Bands: Feel free to use it just like any other Bollinger-type indicator. It's all about finding the right trading strategy that suits your style! Happy trading!

2023.03.07

MetaTrader4

Unlock Trading Insights with the Weighted Deviation Indicator for MetaTrader 4

If you're looking to refine your trading strategy, the Weighted Deviation Indicator for MetaTrader 4 is definitely worth considering. This tool stands out from your standard deviation indicators by employing linear weighting across all calculation steps. This unique approach makes it more responsive than the traditional deviation methods, especially when using a linear weighted moving average. Recommendations: Utilize it just like any other deviation indicator to enhance your trading decisions. By incorporating this indicator into your toolkit, you can gain a clearer understanding of price movements and make more informed trading decisions. Happy trading!

2023.03.07

MetaTrader5

Unlocking the Power of Weighted Deviation Bands in MetaTrader 5

If you’re familiar with Bollinger Bands, then you’re in for a treat with the Weighted Deviation Bands. This nifty indicator brings a fresh twist to the classic bands by utilizing a linear weighted average and weighted deviation, making it a powerful tool for your trading arsenal. For a deeper dive into weighted deviation, check out the details here. Recommendations: Utilize it just like any standard Bollinger Bands indicator.

2023.03.04

MetaTrader5

Discovering the Weighted Deviation Indicator for MetaTrader 5

The weighted deviation indicator is a great tool for traders looking to enhance their analysis. Unlike the standard deviation, this indicator employs linear weighting across all calculated steps. This feature allows it to respond more quickly to market changes, especially when you’re using a linear weighted moving average. Recommendations: Feel free to use it just like any other deviation indicator in your trading toolkit.

2023.03.04

MetaTrader5

Hurst Exponent Indicator for MetaTrader 5: Enhanced Version for Traders

If you’re looking to dive deeper into the world of trading indicators, you might want to check out this optimized version of the Hurst Exponent. It’s tailored for use with MetaTrader 5 and offers some neat enhancements over the original. Here are a few recommendations: Make sure to read the original description for a deeper understanding of how it works. While there’s potential for further optimization (like using a faster logarithm approximation—which might slightly affect precision), the improvements in this version compared to the first are quite significant. Happy trading!

2023.02.16

MetaTrader5

Mastering MetaTrader 5: The CLS Indicator for Effortless Chart Management

As traders, we know that keeping our charts clean and organized is crucial for effective analysis. That's where the CLS (ClearScreen) indicator comes into play. This handy tool allows you to delete all objects drawn on your MetaTrader 5 chart with just a simple key press – specifically, the 'C' key. Why clutter your workspace with unnecessary lines and shapes? With the CLS indicator, you can focus on what really matters: making informed trading decisions. It’s a straightforward solution that can save you time and help maintain clarity in your analysis. So, whether you’re a seasoned trader or just starting out, adding the CLS indicator to your toolkit can streamline your charting process. Give it a try and see how much easier your trading routine can become!

2023.02.09

MetaTrader5

Mastering the Advanced Line Chart Indicator for MetaTrader 5

The Advanced Line Chart is a powerful tool that traders can leverage to get a clearer picture of market trends. This indicator is designed to reflect the overall trend direction by utilizing Japanese candlestick data. When the market is on an upward trend, the line will tend to hover near the high prices of each candlestick. Conversely, during a downward trend, it aligns closer to the low prices. This feature makes it an excellent visual aid for tracking price movements. Moreover, the Advanced Line Chart is fantastic for plotting various moving averages, which can serve as a solid foundation for calculating other technical indicators. Whether you're a seasoned trader or just starting out, incorporating this tool into your trading strategy can enhance your market analysis.

2023.02.04

MetaTrader4

Mastering Support and Resistance Levels with this MetaTrader 4 Indicator

Hey fellow traders! Today, let’s dive into a handy tool that can really sharpen your trading game—the Support and Resistance Indicator for MetaTrader 4. If you’ve ever struggled to pinpoint those critical levels, this might just be the solution you've been looking for. The core concept here is simple: this indicator helps you identify support and resistance levels, which are essential for making informed trading decisions. Unlike many other indicators out there, this one is straightforward and effective. It calculates and displays these levels directly on your chart, and the best part? If the price fluctuates between these levels, they stay put, giving you a reliable reference as you trade. Now, let’s talk about how it works. There are two main input parameters you’ll want to adjust: Period and Overlook. The indicator scans for the highest and lowest prices, ensuring they’re the highest or lowest over the last (Period) bars and also over the (Period + Overlook) bars. If it identifies both a peak and a trough, it marks them on your chart. One thing to keep in mind is that the i parameter in the OnCalculate function should always start from the sum of Period and Overlook. This ensures that the calculations are accurate and up to date. I recommend setting your parameters to: Period: 20 and Overlook: 10. This configuration has worked well for many traders, but feel free to tweak it based on your trading style.   

2023.01.27

MetaTrader4

Mastering Wilder's RSI: The Essential Indicator for MetaTrader 4

If you're diving into the world of trading, you've probably heard of the Relative Strength Index (RSI). This powerful indicator was brought to life by John Welles Wilder Jr. in his groundbreaking book, New Concepts in Technical Trading Systems from 1978. What sets this version apart? It features a streamlined equation designed for faster calculations without sacrificing accuracy. So, whether you're scalping or holding longer positions, you can trust that the signals are spot on. Plus, this code is written for both MQL4 and MQL5, thanks to its conditional compilation. If you're looking to explore even more, you can find all my CodeBase publications' source code under the “Public Projects” tab in MetaEditor, listed as “FMIC.”

2023.01.23

MetaTrader5

Mastering Wilder's RSI: A Key Indicator for Your MetaTrader 5 Strategy

If you’re diving into the world of trading, you've probably heard of the Relative Strength Index (RSI), a powerful tool developed by John Welles Wilder Jr. in his groundbreaking book, New Concepts in Technical Trading Systems back in 1978. This indicator is a must-have in your trading toolbox! What’s great about this version? It utilizes a tweaked formula that boosts computational efficiency while delivering the same reliable results. So, you can expect accurate signals without bogging down your system. Plus, the code is designed to work seamlessly on both MQL4 and MQL5, thanks to its conditional compilation. And here’s a little tidbit: you can now find all my source code publications under the “Public Projects” tab in MetaEditor listed as “FMIC.” So, getting your hands on the source has never been easier!  

2023.01.23

MetaTrader4

Mastering Wilder's Average True Range (ATR) for MetaTrader 4

If you're diving into the world of technical analysis, you’ve probably heard of the Average True Range (ATR). This nifty indicator was crafted by John Welles Wilder Jr., and you can find all the juicy details in his classic book, New Concepts in Technical Trading Systems [1978]. Now, what sets this ATR apart? Instead of the usual simple moving average (SMA), this indicator employs Wilder’s moving average, which is also known as the smoothed moving average (SMMA). This little tweak can make a big difference in your trading strategy. Plus, it uses a default period of 7, unlike the standard 14 seen in MetaTrader’s built-in ATR. The code is designed for versatility and works seamlessly on both MQL4 and MQL5. For those of you who love to tinker, be sure to check out the “Public Projects” tab in MetaEditor, where you can find all my CodeBase publications under the name “FMIC”.

2023.01.22

MetaTrader5

Mastering Wilder's Average True Range (ATR) for MetaTrader 5 Trading

Hey traders! Today, we’re diving into a powerful tool that can enhance your trading strategy—the Average True Range (ATR). This indicator was crafted by the legendary John Welles Wilder Jr. and is detailed in his classic book, New Concepts in Technical Trading Systems from 1978. What sets this ATR apart? It employs Wilder’s moving average, often referred to as the smoothed moving average (SMMA), rather than the standard simple moving average (SMA) that you’ll find in MetaTrader’s built-in ATR. The default setting for this ATR is set to 7, which is a shift from the conventional 14 days mentioned in Wilder's work. If you’re looking to implement this indicator, you’ll be pleased to know that the code is designed for both MQL4 and MQL5, ensuring that you can use it regardless of your trading platform. Plus, all the source codes for my publications on CodeBase are now easily accessible under the “Public Projects” tab in MetaEditor—just look for “FMIC”. So, whether you’re a seasoned trader or just starting out, mastering the ATR can provide you with deeper insights into market volatility and help refine your trading decisions. Let's get trading smarter!

2023.01.22

MetaTrader5

Unlock the Power of Price Line 3 Indicator for MetaTrader 5

What is Price Line 3? The Price Line 3 indicator for MetaTrader 5 is a handy tool that every trader should consider adding to their toolkit. Here’s a quick overview of its key features: Real-Time Data: Displays the moving last price on the Bid Line along with the symbol name, countdown to candle closing, and the current timeframe. 24-Hour Performance: Tracks the percentage change over the last 24 hours to help you gauge market momentum. Customizable Time Settings: Choose how you want the time displayed on the Price Line – options include Local, GMT, or Current Time based on your chart's settings. Just make sure to select the correct time that corresponds with your chart! Color Customization: You can easily set different colors for bear and bull trends directly from the indicator settings. Chart Interactivity: The indicator shows the current high and low values right on your chart. Plus, you can scale the chart up and down using your mouse scroll wheel (a feature inspired by Lorentzos Roussos on the forum). Easier Navigation: Use the left and right arrow keys to quickly switch between different chart symbols. Update: An alternative version compatible with Renko charts has also been added!

2023.01.15