Technical Indicator - MetaTrader5 (Page 323)

Mastering the Simple Scalping System for MetaTrader 4

Description: Are you looking to elevate your trading game? The Simple Scalping System is just what you need! This template incorporates the CCI (Commodity Channel Index), Parabolic SAR, and Moving Average indicators, optimized for quick trades on the M1 to M5 timeframes. To maximize your success, enter trades when the Parabolic SAR signals a buy or sell. For extra confidence, keep an eye on the Moving Average and CCI to align with the prevailing market trend. Setting it up is a breeze! Just copy the template file to your directory at C:\Program Files\MetaTrader 4\templates and load it directly in your terminal. Image:

2011.10.19

MetaTrader5

Mastering Value Charts: Your Guide to the Indicator for MetaTrader 5

Value Charts is a powerful detrended price indicator developed by David Stendhal. It helps traders identify overbought and oversold conditions by showcasing the extremes of price movements without the noise of trends. If you’re looking for a deeper dive into how to effectively use Value Charts in your trading strategy, I highly recommend checking out the book "Dynamic Trading Indicators: Winning with Value Charts and Price Action Profile" by Mark Helweg and David Stendhal. It's packed with insights and strategies that can take your trading to the next level.

2011.10.18

MetaTrader5

Boost Your Trading Strategy with the SuperTrend Indicator for MetaTrader 5

If you're looking to enhance your trading game, the SuperTrend indicator for MetaTrader 5 is a tool you won’t want to overlook. This powerful indicator was originally developed in MQL4 and you can find it published on CodeBase at mql4.com. It has gained popularity among traders for its simplicity and effectiveness in identifying trends. One of the cool features of the SuperTrend is the ability to use the DRAW_FILLING option through the "Show_Filling" input. This allows you to customize how the indicator displays on your charts. When Show_Filling is set to false: When Show_Filling is set to true (using DRAW_FILLING):

2011.10.18

MetaTrader4

Collect Tick Data Easily: A Handy Indicator for MetaTrader 4

Description: If you're looking to dive deeper into trading strategies or backtest your ideas, but lack high-frequency forex data, this post is for you! I’ve got a simple tick data collector written in MQL4 that allows you to gather tick data on any symbol you choose. Think of it as your quiet assistant—once you drop it on your chart, it goes to work fetching every tick and saving it to a file in the experts\files subfolder. The collected data is stored with the symbol in the file name. For example, if you’re working with the Euro against the Dollar, your file will be named EURUSD_tick.csv. This data will be saved from the moment you add the indicator until you decide to remove it from your list. Here’s a sneak peek of what the saved CSV file will look like: datatime,open,high,low,close,volume 1317642960,1.54739,1.54739,1.54697,1.54697,20 1317642960,1.54739,1.54739,1.54697,1.54701,21 1317643020,1.54705,1.54705,1.54705,1.54705,1 1317643020,1.54705,1.54709,1.54705,1.54709,2 1317643020,1.54705,1.54716,1.54705,1.54716,4 1317643020,1.54705,1.5472,1.54705,1.5472,5 1317643020,1.54705,1.54723,1.54705,1.54723,6 ... (continues) This data can be a game changer for your trading strategies. With this tick data collector, you’re not just trading; you’re trading smart!

2011.10.17

MetaTrader5

Mastering the SHI Channel True Indicator for MetaTrader 5

Real authors: Shurka & Kevin The SHI_Channel_true indicator is a powerful tool that automatically displays dynamic moving channels, known as Barishpolts, on your trading chart. At its core, this indicator identifies the nearest fractal in your historical data, finds a second one, and connects them with a line. On the opposite side, it draws a parallel line based on the maximum fractal. The middle line is then plotted between these two, giving you a clear visual representation of market dynamics. Parameters (default values in brackets):BarsForFract(0) - this sets the length of the fractal "shoulder". A standard fractal includes 5 bars: one extreme point flanked by two bars (with a leverage of 2) on each side. You can increase this leverage for greater impact. If you set the parameter to 0, the leverage size will adjust automatically based on the time frame of your chart. This indicator is versatile and works seamlessly with all currency pairs and time frames, starting from M1. There are two versions of this indicator: the NB_SHI_Channel_true, which includes three lines that form a channel, allowing for easy access to this data via your trading systems. This indicator first made its debut in MQL4 and was published on CodeBase at mql4.com back on October 13, 2006.

2011.10.14

MetaTrader5

Mastering the WATR Indicator for MetaTrader 5: A Trader's Guide

If you're looking to sharpen your trading game, the WATR indicator is a fantastic tool to add to your arsenal. This simple yet effective trend indicator makes it easy to spot the current direction of a trend, making it especially useful for breakout trading strategies. In this latest version, you'll notice signal-colored dots that highlight changes in trend direction—perfect for quick decision-making! Originally developed in MQL4, the WATR indicator was first published on CodeBase at mql4.com back on March 5, 2007. Over the years, it has become a staple for traders seeking clarity in their trading strategies.

2011.10.14

MetaTrader5

Understanding Trend_CF Indicator for MetaTrader 5

Created by: Ronald Verwer/ROVERCOM The Trend_CF indicator serves as a visual guide between two lines. The color of the fill indicates the direction of the trend, while the width of the channel between these lines reflects the strength of that trend. Originally developed in MQL4, this handy tool was first introduced on CodeBase at mql4.com on October 17, 2007.

2011.10.14

MetaTrader5

Mastering JFatlAcceleration: Your Guide to a Powerful MT5 Indicator

Are you ready to take your trading to the next level? Let’s dive into the JFatlAcceleration indicator, a fantastic tool that helps you measure trend acceleration right in MetaTrader 5. The JFatlAcceleration is calculated using a unique formula that looks like this: JFatlAcceleration = Momentum(JMA(Momentum(JMA(FATL(Price[bar]))))) Here’s a quick breakdown of the components: JMA - This stands for adaptive smoothing, which helps in refining the data. Momentum - A classic indicator that measures the strength of price movements. FATL - This is a digital filter that plays a key role in the calculations. Price[bar] - Refers to the current price of the financial asset being analyzed at the specified bar. The ColorJFatlAcceleration uses the SmoothAlgorithms.mqh library classes. If you’re curious about how these classes work, check out the detailed article on "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

2011.10.12

MetaTrader5

JFatlSpeed: Your Go-To Indicator for Early Trend Detection in MetaTrader 5

Are you looking to get ahead in your trading game? Meet JFatlSpeed, a smoothed Momentum indicator that’s designed to help you spot new trends right from the get-go. This nifty tool is built on the fast trends indicator JFatl, allowing traders to detect market movements at the earliest stages. With JFatlSpeed, you can stay one step ahead of the market! Both JFatlSpeed and its counterpart utilize the SmoothAlgorithms.mqh library classes, which are detailed in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers". Make sure to check it out for a deeper understanding of how this works!

2011.10.12

MetaTrader5

Mastering the Heiken Ashi Smoothed Indicator for MetaTrader 5

The Heiken Ashi Smoothed indicator is a twist on the classic Heiken Ashi tool that many traders swear by. What sets it apart? Instead of using the current price values, it leverages smoothed price data. This nifty method helps filter out those pesky false signals that can often lead you astray when using standard calculations. This indicator also gives you the flexibility to choose your smoothing method from a variety of 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 using Tushar Chande's Algorithm; AMA – Smoothing with Perry Kaufman's Algorithm. It's worth noting that the Phase1 and Phase2 parameters take on different roles depending on the smoothing algorithm you choose. For instance, with JMA, the Phase variable can range from -100 to +100. For T3, it refers to a smoothing ratio multiplied by 100 for easier visualization. Meanwhile, VIDYA's Phase parameter corresponds to a CMO oscillator period, and for AMA, it's tied to a slow EMA period (with the fast EMA set to a default value of 2). To get started, you'll need to copy the SmoothAlgorithms.mqh library classes into your terminal_data_folder\MQL5\Include. For a deep dive into how these classes work, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers". The Heiken Ashi Smoothed indicator is available in two formats – for the main chart window: And for an additional chart window:

2011.10.12

MetaTrader4

Unlock Trading Success with LOCSignal MACD Double Pike Indicator for MetaTrader 4

Author: Mikhail A. The LOCSignal MACD Double Pike is a user-friendly indicator designed for traders looking to enhance their trading strategy. This nifty tool identifies extreme values in the MACD Main line, helping you catch the moves that matter. What sets it apart? It filters out the first pike and showcases all subsequent signals! With arrows displayed right on your chart, this indicator makes it easy to spot trading opportunities. The main goal is to find MACD pikes starting from the second one on either side. Check out the image below for a clearer picture: Recommendations: Best used on the 1-hour chart. For optimal results, it’s wise to confirm signals with another trend indicator. If you have any questions or need further clarification, don’t hesitate to reach out!

2011.10.12

MetaTrader5

Unlock Trading Insights with the Camarilla_Full Indicator for MetaTrader 5

Description:If you're looking to gain an edge in your trading strategy, the Camarilla Equation indicator is a game-changer. Designed for all chart types, this tool helps you analyze how a financial asset has performed historically in relation to the Camarilla levels.

2011.10.08

MetaTrader5

Mastering the Camarilla Equation: A Trader’s Guide for MetaTrader 5

The Camarilla Equation is a trading system developed by Nick Stott back in the late 1980s, and it’s become a valuable tool for traders around the world. This system comprises either 8 or 10 levels—depending on the version you’re using—calculated using the Open, Close, High, and Low prices from the previous trading session. It provides a set of guidelines on how to apply these levels effectively in your trading strategy. The levels are split into two groups. The first group is derived from yesterday's Close price and is labeled with an 'L' for Low, ranging from L1 to L5. The second group moves upwards from the same Close price, marked with an 'H' for High, also ranging from H1 to H5. It's important to note that levels L1 and L2 have a lesser impact and are often overlooked. However, L5 and H5 are crucial and should never be ignored, even if some sources tend to dismiss them. Here’s how you calculate the Camarilla levels: H1 = close + (high-low)*1.1 /12H2 = close + (high-low)*1.1 /6H3 = close + (high-low)*1.1 /4H4 = close + (high-low)*1.1 /2H5 = (high/low)*closeL1 = close - (high-low)*1.1 /12L2 = close - (high-low)*1.1 /6L3 = close - (high-low)*1.1 /4L4 = close - (high-low)*1.1 /2L5 = close - (H5 - close)

2011.10.08

MetaTrader5

Unlocking the X2MA Indicator for MetaTrader 5: A Trader's Guide

Welcome, fellow traders! Today, we’re diving into the X2MA indicator for MetaTrader 5, a universal moving average that offers double smoothing. One of the coolest features of X2MA is its flexibility, allowing you to choose from a variety of smoothing options to tailor it to your trading style. What Smoothing Options Does X2MA Offer? Here’s a quick rundown of the different smoothing algorithms you can select: 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 Using Tushar Chande's Algorithm AMA - Smoothing Using Perry Kaufman's Algorithm It’s important to note that the Phase1 and Phase2 parameters have distinct meanings depending on the smoothing algorithm you choose. For instance, in the JMA, the Phase variable ranges from -100 to +100. For T3, it’s a smoothing ratio multiplied by 100 for better visualization. Meanwhile, VIDYA uses a CMO oscillator period, and for AMA, it reflects a slow EMA period. In other algorithms, these parameters generally don’t impact smoothing. By default, the fast EMA period for AMA is fixed at 2, and the power ratio is also set at 2.

2011.10.08

MetaTrader5

Unlocking the AT_CF Indicator for MetaTrader 5: A Comprehensive Guide

Author: Vladimir Kravchuk "New Adaptive Method of Following the Tendency and Market Cycles" The AT_CF indicator is a powerful tool that integrates four distinct digital filters (FATL, SATL, RFTL, and RSTL) into a single window. This setup is based on Vladimir Kravchuk's unique method, designed to streamline your trading strategy. The core idea behind the AT_CF method is to minimize the number of technical tools while ensuring they deliver the necessary properties for constructing a robust trading algorithm. This algorithm aims to maximize profitability while keeping risks at a manageable level for specific market conditions. Here are some basic rules for interpreting the indicators: Rising SATL Line: This indicates a bullish market trend. The local minimum of the SATL signifies the start of a bearish trend reversal. Conversely, when the STLM moves from negative to positive, it marks the end of the bearish trend. Falling SATL Line: This shows a bearish market trend. The local maximum of the SATL indicates the beginning of a bullish trend reversal, while a shift of the STLM from positive to negative signals the end of the bullish trend. SATL Near Horizontal: This indicates a neutral market position. Pay special attention to the STLM readings. A positive STLM value points to a bullish trend, while a negative one suggests a bearish trend. Remember, STLM is a leading indicator; its local minimum always precedes the SATL local minimum, and the same goes for local maximums. When the STLM reaches its extreme points, it can indicate that the SATL curve may also be nearing a top or bottom. An increasing STLM alongside a rising SATL suggests an acceleration of the bullish trend, while a steady or horizontal positive STLM indicates a stable bullish environment. The larger the absolute value of the STLM, the stronger the bullish sentiment becomes. Conversely, a falling STLM during a declining SATL indicates accelerating bearish momentum. Horizontal and negative STLM with a rising SATL indicates a steady bearish trend; again, a larger STLM absolute value signifies a stronger bearish trend. A rising "fast" FATL trend line alongside an increasing "slow" SATL trend line points to a strong bullish market. A falling "fast" FATL line with a declining "slow" SATL line signals a strong bearish market. An increasing FATL line when the SATL is falling suggests a bullish correction in a bearish trend or a phase of consolidation. A decreasing FATL line when the SATL is rising indicates a bearish correction in a bullish trend or consolidation. If the FATL and SATL lines begin moving in the same direction, it can signal a trend reversal or the end of a correction, leading to a continuation of the price movement towards the SATL.

2011.10.07

MetaTrader5

Mastering the Chaikin Oscillator: A Trader's Guide for MetaTrader 5

Chaikin Oscillator is a popular tool named after its creator, Marc Chaikin. This indicator is built on the principles of the Accumulation/Distribution indicator, along with insights from trading legends like Joe Granville and Larry Williams. The version of the Chaikin Oscillator available in MetaTrader 5 offers flexibility with its smoothing options. You can choose from ten different smoothing algorithms: 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 Using Tushar Chande's Algorithm; AMA - Smoothing Using Perry Kaufman's Algorithm. It's important to remember that the Phase parameter has different implications based on the smoothing algorithm you're using: For JMA, it adjusts from -100 to +100; For T3, it expresses a smoothing ratio multiplied by 100 for clarity; For VIDYA, it represents the CMO period, while for AMA, it's about the slow EMA period; AMA's fast EMA period is typically set at a fixed value of 2, which is also the ratio for raising the power. To use this indicator effectively, you'll need to incorporate the SmoothAlgorithms.mqh library classes (ensure these are copied to the terminal_data_folder/MQL5/Include). For a detailed guide on using these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

2011.10.07

MetaTrader5

Understanding Spearman's Rank Correlation: A Key Indicator for MetaTrader 5

Author: Rosh Spearman's Rank Correlation is a handy, non-parametric method for analyzing the relationship between two variables. It's great for traders who want to understand how closely related different market factors are without getting bogged down by complex statistics. How to Calculate Spearman's Rank Correlation Here’s a quick rundown on how to calculate the Spearman's Rank Correlation: Assign a rank to each parameter in either ascending or descending order. Determine the differences in ranks for each pair of values you’re comparing. Square each of those differences and sum them all up. Calculate the correlation ratio using the formula shown below: In this formula, the symbol represents the sum of the ranks differences, while indicates the number of paired observations. Interpreting the Correlation Ratio When you use the rank correlation ratio, you can evaluate how closely the parameters are related: A ratio of 0.3 or lower indicates a weak correlation. Ratios between 0.4 and 0.7 show moderate correlation. Values of 0.7 or higher suggest a strong correlation. It's worth noting that while Spearman's Rank Correlation is a bit less powerful than parametric correlation methods, it's particularly useful when you have a smaller dataset. Versatility of the Spearman's Rank Correlation This method isn’t just limited to quantitative data. It can also work with qualitative data that has varying intensities. For a deeper dive into the stats, check out this resource. Using the Indicator in MetaTrader 5 In MetaTrader 5, the Spearman's Rank Correlation indicator functions as a smoother oscillator compared to the Stochastic indicator, without lagging at key reversal points. The only external parameter you can tweak in the calculation is rangeN, which sets the number of bars for analysis. For example, if rangeN is set to 14, you’ll analyze the closing prices from Close[i] to Close[i + rangeN - 1] to create a sequence of ranks. Additionally, the direction parameter allows you to sort the data in either descending (true) or ascending (false) order. True presents a more traditional view, while false gives you a mirrored perspective. The CalculatedBars parameter limits how many bars are included in the calculation to save on CPU resources (though this might not always be a concern). Setting it to zero means it will use the entire available history. The Maxrange parameter, capped at 30, sets a maximum calculation period and can be a useful resource-saving measure for some traders. Spearman's Rank Correlation indicator

2011.10.07

MetaTrader5

Optimized ZigZag Indicator for MetaTrader 5: Boost Your Trading Game

Hey there, fellow traders! If you’ve been using MetaTrader 5, you might want to check out the upgraded ZigZag indicator. This isn’t just any version; it’s the first variant optimized for speed, making it a game-changer for your trading strategy.This revamped ZigZag indicator works a whopping eight times faster than the standard one that comes with MetaTrader 5. Now that’s something to get excited about! It’s available in two styles - single color and two-color options - giving you the flexibility to choose what suits your trading style best.

2011.10.05

MetaTrader5

Mastering the Chaikin Volatility Index: Choose Your Smoothing Algorithm

Hey fellow traders! Today, we're diving into the Chaikin Volatility Index and how you can take it to the next level by selecting the right smoothing algorithm. Unlike the standard version, this indicator allows you to pick from ten different smoothing methods to suit your trading style. Options for Smoothing Algorithms Here’s a quick rundown of the available algorithms: 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 using Tushar Chande's algorithm; AMA - Smoothing using Perry Kaufman's algorithm. Understanding the Phase Parameter It's important to note that the Phase parameter varies significantly among these algorithms: For JMA, it’s an external Phase variable that ranges from -100 to +100. For T3, it’s a smoothing ratio multiplied by 100 for better visualization. For VIDYA, it’s the CMO period; for AMA, it’s the slow EMA period. In the case of AMA, the fast EMA period is fixed at a default of 2, and the raising power ratio is also set to 2. This indicator leverages the SmoothAlgorithms.mqh library classes, which you’ll need to copy into your terminal_data_folder\MQL5\Include. For a deeper dive into using these classes, check out the article titled "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

2011.10.05

MetaTrader5

Unlocking Multi-Currency Trading with Multistochastic Indicator for MetaTrader 5

If you're looking to enhance your trading game, the Multistochastic Indicator for MetaTrader 5 could be a game changer. This tool is designed for multi-currency technical analysis, leveraging the correlations between different financial assets. The concept of analyzing correlations between various financial instruments isn't exactly groundbreaking; however, developing an algorithm that focuses on these relationships can provide valuable insights. The Multistochastic Indicator is built upon the findings presented by Vasily Yakimkin in his article, "Resonances - a New Class of Technical Indicators," published in the 'Currency Speculator' magazine back in 2001. So, what's the crux of this method? Let's say you want to analyze the EUR/USD market. Instead of relying solely on the indicators related to EUR/USD, you can also consider readings from correlated pairs like EUR/JPY and USD/JPY. This approach can offer a more comprehensive view of market dynamics. To ensure that your measurements are straightforward and convenient, it's best to utilize indicators with normalized values. The Stochastic Oscillator fits the bill perfectly and has been incorporated into this indicator. If you're keen to dive deeper into how this indicator works and the signals it generates, check out the detailed description in the article "Creating an Expert Advisor, which Trades on a Number of Instruments".

2011.10.05