MetaTrader5
Unlocking the UltraFatl Indicator for MetaTrader 5: A Trader's Guide
Hey there, fellow traders! Today, we're diving into the UltraFatl indicator, a powerful tool for MetaTrader 5 that’s designed to help you make sense of market trends. This indicator takes the Fatl indicator values and analyzes its signal lines to provide a clearer picture of the market. So, how does it work? The calculation of the signal lines follows a straightforward algorithm. Each signal line's period is determined using the arithmetic progression formula: SignalPeriod(Number) = StartLength + Number * Step Here, the Number variable ranges from 0 to StepsTotal. The indicator utilizes Fatl indicators with various periods to calculate average values, which helps in determining the current trend direction based on these averaged values. The beauty of the UltraFatl lies in its visualization. The positive and negative trend values are averaged and presented as indicator lines, displayed as a color histogram. This histogram is plotted using the DRAW_COLOR_HISTOGRAM2 style. The color of the histogram indicates the trend direction, while its width reflects the strength of that trend. For clarity, the histogram uses four colors for different trend directions. Dark colors represent values beyond the overbought and oversold levels, while lighter shades indicate when the market is in those zones. Indicator Input Parameters: //+----------------------------------------------+
//| Indicator input parameters |
//+----------------------------------------------+
input ENUM_APPLIED_PRICE Applied_price=PRICE_CLOSE; // Applied price
//----
input Smooth_Method W_Method=MODE_JJMA; // Smoothing method
input int StartLength=3; // Initial smoothing period
input int WPhase=100 // Phase
//----
input uint Step=5 // Step
input uint StepsTotal=10 // Total steps
//----
input Smooth_Method SmoothMethod=MODE_JJMA; // Smoothing method
input int SmoothLength=3; // Smoothing length
input int SmoothPhase=100 // Phase
input Applied_price_ IPC=PRICE_CLOSE_; // Applied price
//----
input uint UpLevel=80 // Overbought level (in %)
input uint DnLevel=20 // Oversold level (in %)
input color UpLevelsColor=Blue; // Color of overbought level
input color DnLevelsColor=Blue; // Color of oversold level
input STYLE Levelstyle=DASH_; // Level style
input WIDTH LevelsWidth=Width_1; // Level widthOne of the cool features of this indicator is the variety of smoothing methods it offers. Here are some options: SMA - Simple Moving Average; EMA - Exponential Moving Average; SMMA - Smoothed Moving Average; LWMA - Linear Weighted Moving Average; JJMA - JMA Adaptive Average; JurX - Ultralinear Smoothing; ParMA - Parabolic Smoothing; T3 - Tillson's Multiple Exponential Smoothing; VIDYA - Smoothing with Tushar Chande's Algorithm; AMA - Smoothing with Perry Kaufman's Algorithm. Keep in mind that the Phase1 and Phase2 parameters have different meanings depending on the smoothing algorithm you choose. For instance, with JMA, it refers to an external Phase variable that ranges from -100 to +100. In contrast, for T3, it functions as a smoothing ratio. Each algorithm is unique, so read up on how they affect your settings. Lastly, the UltraFatl utilizes the SmoothAlgorithms.mqh library classes. Make sure you copy these to your terminal_data_folder/MQL5/Include. For an in-depth understanding of how these classes work, check out the article titled "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers". UltraFatl Indicator
2012.02.07
