Technical Indicator - MetaTrader5 (Page 337)

Unlocking Trading Signals with ZeroLag MACD for MetaTrader 5

If you're looking to sharpen your trading strategy, the ZeroLag MACD for MetaTrader 5 might just be the tool you need. This oscillator is the MQL5 version of the ZeroLag MACD indicator, originally published in the Russian section of MQL4 CodeBase. What sets this indicator apart is its ability to provide signals a few bars ahead compared to the standard MACD. Plus, its divergence signals are much clearer, giving you an edge in your trading decisions.   How is it Calculated? ZeroLAG MACD(i) = (2*EMA(Close, FP, i) - EMA(EMA(Close, FP, i), FP, i)) - (2*EMA(Close, SP, i) - EMA(EMA(Close, SP, i), SP, i)); ZeroLAG MACD Signal(i) = 2*EMA( ZeroLAG MACD(i), SigP, i) - EMA(EMA( ZeroLAG MACD(i), SigP, i), SigP, i); Where: EMA - Exponential Moving Average; Close - Close price of the bar; FP - Period of fast moving average; SP - Period of slow moving average; SigP - Period of signal moving average.

2010.08.24

MetaTrader4

Understanding the Change Percentage Indicator for MetaTrader 4

If you’re navigating the waters of trading, you know how essential it is to keep a pulse on market movements. One handy tool in your arsenal is the Change Percentage Indicator, which tracks the percentage change between the closing price of the current period and the previous one. By using this indicator, you can easily gauge market momentum and make better-informed decisions. Understanding these shifts can be a game-changer for your trading strategy. Happy trading! — MT-Coder

2010.08.20

MetaTrader5

AlfOs: A Powerful Oscillator for MetaTrader 5

Hey traders! If you’re on the hunt for an effective tool to enhance your trading strategy, let’s talk about AlfOs. This nifty little oscillator is quite similar to the OsMA and incorporates the Variable Index Dynamic Average. It’s designed to give you a clearer picture of market trends. Input Parameters: MA1 - This is your Fast Moving Average period; MA2 - Here’s your Slow MA period; CMO1 - Fast MA CMO; CMO2 - Slow MA CMO; Signal - The period for the Signal MA. AlfOs can really help you refine your entries and exits by providing additional insights into price momentum. So, if you’re looking to step up your trading game, give it a whirl!

2010.08.17

MetaTrader4

Unlocking the Power of HML Rainbow Indicator for MT4 Trading

Understanding the HML Rainbow Indicator If you're trading on MetaTrader 4 (MT4), you might have noticed that it has its limitations, especially when it comes to the number of lines you can draw in a single indicator. But don't fret! The HML Rainbow is a game-changer. This unique family of indicators works in harmony, drawing three distinct sets of lines that provide a comprehensive view of highs, lows, and median lines across all timeframes. This setup creates a robust framework for identifying support and resistance levels, making it an ideal tool for analyzing price movements. Price Levels and Resistance Here's my take: when the price approaches a level where two or more of these lines converge, you're likely to encounter strong resistance. In most cases, the price will bounce back to a previous level. However, if the momentum is strong enough, it might just break through that resistance. Pair this with Bollinger Bands, and you might uncover some intriguing insights. I encourage you to explore this for yourself! Limitations of the HML Rainbow One downside to the HML Rainbow is that when multiple lines are drawn at the same price level, only the most recently drawn line is visible on your chart. I'm actively working on a solution for this, but if you open the data window, you can still see all the prices that are overlaid. Visualizing Market Movements Think of it like this: it’s akin to seeing a ghostly representation of each timeframe on your chart. Notice the delicate lines that move with the price? These represent the lower timeframes reacting to the current price action, or perhaps they indicate the median as smaller timeframe prices push in that direction. It’s a fascinating way to visualize market dynamics!

2010.08.16

MetaTrader5

Master Your Trades with the i-ImpulseSystem Indicator for MetaTrader 5

If you're looking to boost your trading strategy, the i-ImpulseSystem indicator is a game changer for MetaTrader 5. Built on Elder's Impulse System, this tool helps you visualize market trends by plotting candles in various colors based on the OsMA (12,26,9) and Exponential Moving Average (EMA 13) indicators. Green candles: When both OsMA and EMA are on the rise, indicating strong buying momentum. Red candles: When OsMA and EMA are trending down, signaling potential selling pressure. Grey candles: In all other scenarios, showing market indecision.

2010.08.13

MetaTrader5

Unlock Trading Potential with the Dinapoli Targets Indicator for MetaTrader 5

If you're looking to up your trading game, the Dinapoli Targets indicator for MetaTrader 5 might just be the tool you need. This version leverages MQL5 coding, ensuring smooth integration into your trading strategy. This indicator goes hand in hand with the popular ZigZag tool, providing you with a comprehensive view of market movements. So, how does it work? It identifies local peaks and bottoms, plotting several horizontal lines on your chart. Here's a quick breakdown: White Line: This is your entry point. Target Lines: The remaining lines indicate your targets, with the first target being the most likely to hit. Stop Line: The red line indicates your stop level. Using the Dinapoli Targets indicator can help you make more informed trading decisions. By clearly visualizing entry points and potential targets, you can streamline your strategy and ultimately improve your trading performance.

2010.08.12

MetaTrader5

Understanding the Relative Strength Index of Volatility for MetaTrader 5

The Relative Strength Index (RSI) is a powerful tool that traders can apply to gauge market volatility by looking at the standard deviation of prices. This straightforward indicator helps you measure how volatile a market is. It’s particularly useful for spotting flat zones by analyzing the narrowing and expanding patterns of Bollinger Bands.

2010.08.11

MetaTrader4

Mastering Nik_PSAR_2B: Your Go-To Indicator for MetaTrader 4

Description: Hey fellow traders! If you’re looking to up your game on MetaTrader 4, the Nik_PSAR_2B indicator is a must-have in your toolkit. This versatile tool allows you to select the Parabolic SAR for up to four different timeframes. You can set it up for:Four Timeframes (TF4 = true)Three Timeframes (TF4 = false and TF3 = true)Two Timeframes (TF4 = false, TF3 = false, and TF2 = true)Just the current Timeframe (TF4 = false, TF3 = false, TF2 = false)When you see a green arrow, it’s time to get excited—this signals the start of an upward trend. On the flip side, a red arrow indicates the beginning of a downward trend. Keep an eye out for these signs to make informed trading decisions! Image:

2010.08.10

MetaTrader5

Upgrade Your Trading Game with the New Dual Trix Indicator for MetaTrader 5

Hey fellow traders! I'm excited to share the latest upgrade of the Dual Trix indicator. This new version is a game changer, featuring dual magnified values that you can see both in your chart and in the indicator window. It’s a fantastic tool to help you make more informed trading decisions! With the Dual Trix, you'll gain deeper insights into market trends, allowing you to spot potential trade opportunities more easily. If you haven't tried it out yet, I highly recommend giving it a go. It might just give you the edge you need in today’s fast-paced trading environment!

2010.08.09

MetaTrader4

Unlock Trading Success with the Kolier Market Sessions Indicator for MetaTrader 4

Author: Kolier.Li The Kolier Market Sessions Indicator (KMSI) is a handy tool for all traders. It helps you keep track of the various market session times, making it easier to strategize your trades. Here are a few recommendations to get the most out of KMSI: For detailed information on the indicator, including parameter settings, check out my indicator page. Visit the project page to report any issues or bugs and to access the latest version updates. Looking for advice on optimizing your settings? Check out my research on Market Sessions. With the Kolier Market Sessions Indicator, you can fine-tune your trading strategy and make the most informed decisions. Happy trading!

2010.08.09

MetaTrader4

Understanding the MultiColor Heat Map Indicator for MetaTrader 4

Description: If you’re looking to sharpen your trading edge, the MultiColor Heat Map Indicator for MetaTrader 4 is just the tool you need. This nifty indicator helps you pinpoint price zones that have seen the most action—essentially, the hottest trading spots. The color gradient ranges from cold to hot, making it visually intuitive to understand market activity at a glance. Here’s an example of the gradient from blue to red. And here’s the transition from yellow to orange-red. Lastly, we have the gradient from white to grey. Settings: HMPeriod: This determines how many bars are included in the count. Scale: Adjusts the size of each trading zone. NbZone: Sets the number of zones to create. Cold: Color for the coldest trading zones. Hot: Color for the hottest trading zones.

2010.08.06

MetaTrader5

Unlocking the Dual Trix Upgrade 1: A Game-Changer for MetaTrader 5 Traders

Hey fellow traders! Today, I want to share an exciting tool that might just elevate your trading game – the Dual Trix Upgrade 1. This nifty indicator brings some fantastic enhancements that can really help in analyzing market trends. The upgraded version features larger text outputs, making it easier for you to interpret signals at a glance. You can thank the original concept from antt for this improvement! If you're curious about the details, you can check out the discussion here. As always, it's important to combine any indicator with your own research and trading strategy. Happy trading!

2010.08.05

MetaTrader5

Understanding the MACD Indicator for MetaTrader 5: Choose Your Timeframe

If you're a trader looking to enhance your analysis, the MACD indicator is a fantastic tool to have in your arsenal. This powerful indicator, based on the popular MACD, allows you to select not just the current chart timeframe but also any higher timeframe you prefer. This flexibility is a game-changer! It enables you to align your trades with broader market trends, giving you a better context for your decisions. However, it's important to note that you can't display the MACD for a lower timeframe than the one currently set on your chart.

2010.08.04

MetaTrader5

Understanding the Spread on Chart Indicator for MetaTrader 5

Introduction Since 2008, most trading platforms have shifted to offering "floating" spreads. If you’ve noticed, these spreads tend to widen during the night and often spike around major news releases. When spreads increase significantly, it can really impact some trading strategies, making them less profitable. Additionally, a larger stop level can disrupt the functioning of trading systems, especially those relying on fixed Stop Loss and Take Profit settings. The Strategy Tester in MetaTrader 4 uses the last known values for spread, stop levels, and freeze levels, which can affect your results. On the other hand, the MetaTrader 5 Strategy Tester utilizes historical spread data, giving you a more comprehensive view of past trading conditions. The spread_on_chart indicator is a handy tool that displays key values right on your trading chart, including: Spread: The difference between the current Ask and Bid prices; Stop Level: The minimum distance from the current price to your Stop Loss and Take Profit; Freeze Level: The minimum distance required for modifying orders. This indicator updates with every tick, ensuring you have the latest information at your fingertips. Here are the input parameters you can customize: Corner: Choose which corner of the chart to display the information. By default, it appears in the upper left; XMargin and YMargin: Adjust the horizontal and vertical spacing; Font, Color, Size: Set your preferred font name, color, and size for better visibility. File List: spread_on_chart.mq4 - (for MetaTrader 4); spread_on_chart.mq5 - (for MetaTrader 5).

2010.08.03

MetaTrader5

Unlocking the Heiken Ashi Indicator with Adaptive Moving Average for MT5

If you’re diving into the world of trading with MetaTrader 5, you’ve probably come across the Heiken Ashi indicator. This nifty tool leverages the averaged Open, High, Low, and Close prices, all smoothed out using the Adaptive Moving Average (AMA). The beauty of this setup is that the input parameters mimic those used for the AMA, making it straightforward for anyone familiar with this popular indicator. Using the Heiken Ashi with the AMA can enhance your trading strategy, giving you clearer insights into market trends. It’s like having a sharper lens to view price action, helping you make more informed decisions.

2010.08.02

MetaTrader4

Mastering the Extreme RSI Indicator for MetaTrader 4

Description: Ever found yourself scratching your head over when to enter or exit a trade? The Extreme RSI indicator might just be the game changer you need! This handy tool draws arrows whenever the RSI (Relative Strength Index) pulls back from the extremes, helping you spot potential reversals at a glance. If you're looking to take your trading up a notch, check out the Expert Advisor version available in the codebase, known as the Easiest RSI. It's designed to simplify your trading experience and boost your strategy!

2010.07.30

MetaTrader5

Mastering the Index Moving Average Indicator for MetaTrader 5

If you're diving into the world of trading, you might have come across the Index Moving Average indicator. This handy tool shows the rate of change of the simple moving average, and it can really help you gauge market trends. One of the standout features of this indicator is that its direction aligns with the daily bars. Essentially, the local peaks and troughs of the indicator can signal potential reversal points in the local trend. This is where it gets interesting! The Index Moving Average is a forward-looking tool, indicating both the rate of price change and potential price reversals. Keeping an eye on this can give you an edge in your trading strategy. So how is this indicator calculated? It's pretty straightforward. The value is derived from the ratio of the current price to the simple moving average of the price over a specified number of days (n-days averaged), minus 1. Here’s the formula: iMA=Price0/MA(n)0-1 Tips for Use: Set your period to 5 days for daily trading. Consider using the average of the high and low prices for the applied price: (H+L)/2. By incorporating the Index Moving Average into your trading toolkit, you can enhance your decision-making process and potentially improve your trading outcomes. Happy trading!

2010.07.28

MetaTrader4

Enhanced Brooky Strength Indicator for MetaTrader 4: A Trader's Guide

Description: Hey fellow traders! Today, I want to talk about an enhanced version of the Brooky Strength Indicator that’s been making waves in the trading community. This tool helps you gauge the strength of a currency by analyzing seven of its cross pairs. Originally put together by Brooky a while back, it's a nifty addition to your trading toolkit. To get started, you need to enter seven currency pairs, ensuring that each pair shares a common major currency. Here’s how you can set it up: Pair 1: USDCHF Pair 2: USDJPY Pair 3: USDCAD Pair 4: AUDUSD Pair 5: EURUSD Pair 6: GBPUSD Pair 7: NZDUSD If everything checks out, the indicator will display the results. If not, it will abort the process, so make sure your pairs are correct! For more insights or to dive deeper into the original version, feel free to check out Brooky’s post from a few pages back. Happy trading! Pat1 Image: In the sub-window, you'll see the modified version of the indicator, alongside the original by Brooky for comparison.

2010.07.26

MetaTrader5

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

If you're looking to sharpen your trading skills, the NRTR (Nick Rypock Trailing Reverse) indicator is a nifty tool to have in your arsenal. It’s designed to help you identify support and resistance levels while setting target prices for your trades. Here's how it works: when the price breaks through the target line, the base line adjusts in the direction of the price movement. This means that minor price fluctuations are effectively sidelined, allowing you to focus on the bigger picture. Keep an eye on the base line's cross; it signals a potential trend change. The base line and target prices will update accordingly. During uptrends, you'll see the support and target lines in blue, while they turn red in downtrends.

2010.07.26

MetaTrader4

Discover the Simple Trend Detector Indicator for MetaTrader 4

Description: If you’re looking for an indicator that’s a bit more responsive than the traditional RSI or DeMarker, the Simple Trend Detector might just be your new best friend. It works in much the same way, but with a heightened sensitivity that can help you catch trends earlier. Its straightforward design means you might find this indicator under various names, but don’t let that confuse you. It’s all about simplicity and effectiveness! Image:

2010.07.26