Technical Indicator - MetaTrader5 (Page 356)

Understanding the Volatility Indicator for Better Trading Decisions

Hey there, fellow traders! Today, we're diving into a tool that can help sharpen your trading strategies—the Volatility Indicator. This nifty little gadget calculates the difference between the highest highs and the lowest lows of candlestick prices over the last 20 bars, which is the default parameter. Pretty cool, right? The output you get from this indicator is displayed in points, giving you a clear view of market volatility. Input Parameters: extern int N=20; // period of the channel Volatility Indicator Using the Volatility Indicator can give you insights into potential price movements, helping you make informed decisions in your trading journey. It's all about understanding how much the price is moving within a set timeframe, giving you a heads-up on when to enter or exit trades. So, give it a whirl and see how it fits into your trading toolkit!

2009.01.05

MetaTrader4

Unlocking the Power of the Extrapolator Indicator for Predictive Trading

Hey fellow traders! Today, let’s dive into a fascinating tool that can help you predict future price movements: the Extrapolator Indicator. This nifty tool uses a variety of methods to generate its predictions, and you can choose the one that suits your trading style best. Let’s break it down! Methods of Prediction Method 1: Fourier's Extrapolation - This method calculates frequencies using the Quinn-Fernandes Algorithm. Method 2: Autocorrelation Method. Method 3: Weighted Burg Method. Method 4: Burg Method with Helme-Nikias weighting function. Method 5: Itakura-Saito (geometric) method. Method 6: Modified Covariance Method. Methods 2 through 6 utilize linear prediction techniques, which means they forecast future prices based on past price data. For instance, if we have a series of prices labeled as x[0] to x[n-1] (where the highest index represents the most recent price), the future price x[n] can be calculated with the formula: x[n] = -Sum(a[i]*x[n-i], i=1..p) In this formula, a[i=1..p] represents the model coefficients and p is the order of the model. The methods from 2 to 6 optimize these coefficients by minimizing the mean-root-square error over the last n-p bars of data. While we could theoretically achieve zero prediction error using the Levinson-Durbin method, it’s often unstable, which is why it’s not included here. Input Parameters LastBar: Refers to the number of the last bar in the historical data. PastBars: This is the number of past bars utilized for forecasting future values. LPOrder: This indicates the order of the linear model as a fraction of the number of past bars (0 to 1). FutBars: The number of future bars for which predictions are made. HarmNo: The maximum number of frequencies for Method 1 (set to 0 to use all frequencies). FreqTOL: The acceptable imprecision in frequency calculations for Method 1 (values >0.001 may lead to convergence issues). BurgWin: This determines the weighting function for Method 2 (0 for Rectangular, 1 for Hamming, and 2 for Parabolic). When you use the Extrapolator, it visually represents its predictions with two lines: the blue line tracks the modeled prices over the training bars, while the red line shows the predicted future prices. Below are some examples of the methods in action: Visual Examples Method 1 (Fourier Series Extrapolation) Method 3 (Burg's Method) Method 6 (Modified Covariance Method) Call for Collaboration If you successfully develop a profitable trading system based on this indicator, I’d love to hear your thoughts! Please share your insights via the email provided in the code.

2008.12.25

MetaTrader4

Mastering the Ryan Jones SM Strategy for Trading Success

Are you looking to enhance your trading strategy? The Ryan Jones SM method provides clear signals on when to buy and sell, marked by arrows on your chart. It’s a straightforward approach: if there’s a trend, you’re in for profits; if not, well, you might want to hold back. Input Parameters: extern int       ParY=3;  //"Y" parameter extern int       ParX=20; //"X" parameter Trading Rules: The beauty of this method lies in its simplicity. Here’s how it works: Buy Signals: The average closing price over the last X days should be higher than the average of the past Y days. The current close price needs to be lower than the closing price from Y days ago. The current close price should exceed the closing price from Y + X days ago. If all three conditions are met, you should buy at the market open the next day. Sell Signals: The average closing price over the last X days should be lower than the average of the past Y days. The current close price needs to be higher than the closing price from Y days ago. The current close price should fall below the closing price from Y + X days ago. For example, let’s say X = 20 and Y = 3: Ryan_Jones_SM

2008.12.25

MetaTrader4

Unlocking Market Insights with Waddah Attar Weekly Fibo

If you're on the lookout for a reliable tool to enhance your trading strategy, the Waddah Attar Weekly Fibo indicator might just be what you need. This indicator is designed to help traders identify key Fibonacci levels, making it easier to spot potential reversal points in the market. Waddah Attar Weekly Fibo As traders, we know that understanding market dynamics is crucial for success. The Waddah Attar Weekly Fibo indicator simplifies this by providing visual cues that align with Fibonacci retracement levels. By incorporating this tool into your trading arsenal, you can make more informed decisions and potentially increase your profitability. Easy to Use: The Waddah Attar Weekly Fibo is user-friendly, making it accessible for traders at all experience levels. Visual Insights: The indicator visually represents key Fibonacci levels, which can help in identifying support and resistance zones. Enhanced Trading Strategy: By utilizing this tool, you can refine your trading strategies and improve your entry and exit points. Overall, the Waddah Attar Weekly Fibo is a great addition for any trader aiming to enhance their market analysis. Give it a try and see how it can make a difference in your trading journey!

2008.12.23

MetaTrader4

Understanding OsMA Divergence: A Guide for Traders

Hey fellow traders! Today, we’re diving into a powerful tool that can give you an edge in your trading strategy: the OsMA Divergence indicator. If you’re looking to refine your trading skills, you’ll want to pay attention! The OsMA indicator, which stands for Oscillator of Moving Average, helps identify momentum shifts in the market. When paired with its divergence signals, it can be a game changer. Check out the colored OsMA below that showcases these divergences: Colored OsMA and OsMA showing divergences. To get started with the OsMA Divergence, you'll want to open the ind_OsMAColored_v1 indicator. Then, simply drag the OsMA_Divergence_v1 indicator into the same chart window using your mouse. This setup will allow you to visualize the significant gray points that indicate divergence. From my experience, this method works best on the 5-minute charts. However, keep in mind that during strong trends, the rollback signals may not be as pronounced, so it’s wise to take those divergence factors with a grain of salt. If you’re interested in automating your trading using this indicator, I have an Expert Advisor (EA) available. Feel free to drop me a private message or send me an email for more details!

2008.12.22

MetaTrader4

Unlocking the Power of the STik Indicator for Tick Trading

If you're diving into the world of tick trading, you might want to check out the STik indicator. It's a handy tool that displays a tick chart in a separate window, making it easier to analyze price movements in real-time based on the current timeframe. One of the standout features of STik is its ability to manage a database of ticks that spans nearly eight days. This means you can dive deep into historical data for your analysis. Just specify the date and time you want to start from, along with how many ticks you'd like to view in the settings, and you're good to go! By default, if you leave the "Start" and "TikChart" parameters at 0 and 350, respectively, the indicator will pull up the latest 350 ticks for you. This helps you stay on top of the market without drowning in data. However, keep in mind that the STik indicator is still a work in progress. Currently, it can only be attached to one symbol at a time, but it’s definitely a tool worth keeping an eye on as it evolves!

2008.12.22

MetaTrader4

Mastering RSI Trading with RSIColored and DivPeakTroughRSI Indicators

Hey traders! Today, we’re diving into how to enhance your trading strategy using the RSIColored_v1 and DivPeakTroughRSI_SW indicators. These tools can really help you spot trends and reversals, so let’s get right into it! First things first, go ahead and attach the RSIColored_v1 to your chart. This indicator provides a visually appealing way to track the Relative Strength Index (RSI), making it easier to identify overbought and oversold conditions. Next, you’ll want to bring the DivPeakTroughRSI_SW into the same window. Just drag it in using your mouse, and voila! You now have both indicators working together to give you a comprehensive view of market momentum. Using these indicators in tandem can help you make more informed trading decisions. They’re not just pretty charts; they deliver valuable insights into price action that can set you up for success. Happy trading! Attach RSIColored_v1 to your chart. Drag DivPeakTroughRSI_SW into the same window. Use both indicators for better market analysis.

2008.12.22

MetaTrader4

Mastering Stop Levels with StopATR_auto: A Trader's Guide

If you're looking to enhance your trading strategy, StopATR_auto might just be the tool you need. This system adjusts your stop levels based on current price action and the Average True Range (ATR), making it a vital addition for traders who want to manage risk effectively. Key Input Parameters Understanding the input parameters is crucial for maximizing the benefits of this tool. Here’s a breakdown: ColorUpperStop: This sets the color for your upper stop level. Default is Blue. ColorLowerStop: This defines the color for your lower stop level. Default is Brown. ShowGraf: A boolean option to display the graph. Set to true by default. CountBarsForShift: Determines the number of bars for shifting purposes. The default setting is 12. CountBarsForAverage: This parameter sets the number of bars to calculate the average ATR. The default is 77. Target: This defines your target multiplier. Default is 2.5. StopATR_auto By customizing these parameters, you can fine-tune your stop levels to better align with market conditions, helping you protect your trades and potentially increase profitability.

2008.12.19

MetaTrader4

Stay Ahead with Price Alerts in Trading

Hey there, fellow traders! If you're looking to gain an edge in your trading game, setting up price alerts can be a total game changer. This nifty feature will ping you as soon as the price shifts, allowing you to stay on top of market movements without having to constantly watch the charts. Input Parameters: NamePrice: This is where you set the name for your alert, for example, "Price_1". SoundFileName: Choose your alert sound. The default is "alarm.wav", but feel free to switch it up! ActiveSignal: Set this to true if you want the signals to be active. ActiveAlert: Keep this on true to ensure your alerts are working. LineColor: Customize your alert line color. The default is set to Gold, but change it to whatever suits your style! Price Alert

2008.12.19

MetaTrader4

Unlocking the X-Pair Indicator: A Trader's Guide

The X-Pair indicator is a valuable tool for traders looking to enhance their market analysis. With its informative features, it helps you make more informed trading decisions. Input Parameters Buy/Sell Settings: GBPJPY EURUSD GBPUSD AUDUSD USDCAD USDJPY USDCHF DOW OIL GOLD Window Settings: Jendela = 0 Sisi = 0 Time Frame Settings: TF1 = 30 TF2 = 15 TF3 = 5 Moving Average Settings: MAFastPeriod = 2 MAFastMethod = 3 MAFastApply_To = 0 MAFastShift = 0 Slow Moving Average Settings: MASlowPeriod = 4 MASlowMethod = 3 MASlowApply_To = 1 MASlowShift = 0 Color Settings: Cross_Buy = DodgerBlue Cross_Sell = Tomato TextColor_Settings = White d1_Color = White d2_Color = White d3_Color = White d4_Color = White d5_Color = White d6_Color = White d7_Color = White d8_Color = White d9_Color = White d10_Color = White X-Pair Indicator

2008.12.18

MetaTrader4

Mastering the DiNapoli Price Oscillator for Better Trading Decisions

Hey traders! Today, we're diving into the DiNapoli Price Oscillator (DPO) and how it can elevate your trading game. This tool has some nifty features that allow you to customize your analysis to fit your trading style. With the DPO, you can: Choose the number of bars for your calculations Select the type of moving average for your analysis Decide which price point to use (open, close, high, or low) Adjust the average shift to get the best readings Calculate and visualize overbought and oversold levels (set at 60% and 100%) These levels are derived using a special formula that incorporates the standard deviation function. The good news is that the displayed levels align perfectly with those you’d achieve through manual calculations. The level factors have been carefully chosen to ensure they’re the most effective for your trading needs. Here are the requirements to get started: The 'Show object description' option should be enabled If you’re displaying two indicators in one window, make sure to load the DPO first Example of the DPO in action Thanks for stopping by, and I hope this helps you get the most out of the DiNapoli Price Oscillator in your trading!

2008.12.16

MetaTrader4

Mastering Candle Patterns: A Trader's Guide to Chart Analysis

Hey fellow traders! Today, we're diving into the fascinating world of candle patterns. I want to give a shout-out to the brilliant minds behind the code that has helped shape this discussion. Special thanks to the resource Japanese Candlesticks by Candlestick.com, which outlines various bullish and bearish scenarios, and to CandleCode by Victor Likhovidov. These references are invaluable for anyone looking to sharpen their trading skills! Setting Up Candle Patterns To get started, you’ll want to place the necessary files in the following directories: Candle Patterns.mq4 into "\experts\indicators" Candle Patterns.csv into "\experts\files" Candle Patterns.rtd into "\experts\files" Symbols_.csv into "\experts\files" gSpeak.mqh into "\experts\include" speak.dll into "\experts\libraries" candle patterns.tpl into "\templates" After placing the files, make sure to close and restart MetaTrader so it can recognize the new additions. Then, navigate to "Indicators" -> "Custom" -> "Candle Patterns" to get started. In the "Custom Indicator" window, head over to the "Common" tab and enable "Allow DLL imports". Understanding Inputs The details for the "Inputs" can be found in the file "Candle Patterns.rtd". Alternatively, you can simply right-click on your chart and select the "candle patterns.tpl" template for a quick setup. Now, a little personal note: I spent my youth in Kinshasa, and if you find these tools helpful in your trading journey, I encourage you to give back. Consider donating to support the people of the Democratic Republic of the Congo through this charity or any organization you believe in. Take care and happy trading!Teddy

2008.12.16

MetaTrader4

Unlocking the Power of the Exoticwavein Indicator for Traders

If you’re looking to enhance your trading game, the Exoticwavein indicator might just be the tool you need. This nifty indicator writes your trading history straight to a CSV file, helping you keep track of your performance with ease. Input Parameters Explained To get started, you'll need to understand the input parameters that come with this indicator. Here’s a quick breakdown: extern int       LastBar=0; extern int       cnttik = 3 ; LastBar: This parameter allows you to set the last bar you want to include in your history tracking, defaulting to 0. cnttik: This one determines how many ticks you want to count, with a default value of 3. Exoticwavein Indicator With these parameters in mind, you can customize the Exoticwavein indicator to suit your trading style. It’s all about making it work for you!

2008.12.11

MetaTrader4

Mastering Internal Bar Strength (IBS) for Better Trading Decisions

Internal Bar Strength (IBS) is a powerful indicator created by Volker Knapp that helps traders gauge market momentum. How It's Calculated The IBS is determined by calculating the moving average of the internal bar strength values, which represent the ratio of (Close - Low) / (High - Low) * 100% for each bar. This gives you a clear picture of price action relative to its range. Putting IBS to Use Typically, traders use a period of five bars for this indicator. When the IBS crosses above the 60% level, it signals overbought conditions, suggesting it might be time to sell. Conversely, a drop below the 40% level indicates oversold conditions, which can be a cue to buy. Input Parameters: extern int Per=5; Internal Bar Strength Indicator Understanding and utilizing the Internal Bar Strength indicator can give you an edge in making informed trading decisions. Keep an eye on those levels and trade wisely!

2008.12.11

MetaTrader4

Unlocking Forex Success: The WKBIBS Indicator Explained

The WKBIBS indicator is a cutting-edge oscillator that combines the strengths of two popular indicators: WKB and IBS. Whether you're a newbie in Forex or a seasoned pro, this tool can enhance your trading strategy. What sets WKBIBS apart? It provides early signals compared to traditional oscillators like stochastic, and unlike many arrow indicators, it doesn’t paint a false picture or redraw signals. Take, for example, Trend_Signal_2008—these arrow indicators might look appealing on a static chart, but they often lag behind in real-time trading, leaving you with outdated signals when you need them most. The WKBIBS, however, is straightforward and offers timely, reliable signals. How to Trade with WKBIBS: Trading with WKBIBS is a breeze. When the red line crosses below the blue line, it’s time to SELL. Conversely, when the red line crosses above the blue line, it’s a signal to BUY. The clarity of these signals on your chart ensures that you’re acting on relevant price movements, unlike with arrow indicators where you might miss the boat. You also have the flexibility to incorporate other strategies, such as utilizing a trend filter to guide your trades. The choice is yours! WKBIBS works seamlessly with the IBS indicator. Input Parameters: extern int       RangePeriod=25; extern int       SmoothPeriod=3; extern int       SmoothMode=MODE_SMA; extern int       Per=5; VKWBIBS

2008.12.10

MetaTrader4

Understanding Madlen 5.0: Your New Trading Ally

Hey there, fellow traders! Let’s dive into the world of the Madlen 5.0 indicator, which is a fantastic tool for identifying support and resistance levels in your trading strategy. The Madlen lines are much like your classic support and resistance lines. The beauty of these lines is that they avoid those pesky false breakouts; you might even call them the "true trend lines." They come into play when you draw them based on specific trading signals. Here’s how it works: when you draw a line that slopes up at a 45-degree angle, you're looking at a support line. Conversely, if the line slopes down at a 315-degree angle, that's your resistance line. Simple, right? Remember, the more traders focus on a particular support or resistance line, the more likely it is that those lines will flip roles in the future. For example, a support line can become a resistance line and vice versa. A solid signal to watch for is when the body of a candlestick closes beyond the line or when a new candlestick opens outside that area. This is when the price starts to form parallel trend channels. But that’s not all! Different types of triangles can also form within these channels. Pay special attention to the midpoint of the triangle, especially as it nears completion. The price action within the triangle often builds momentum, leading to a breakout beyond its limits. The triangles are drawn using various colored lines, while the channels typically use a single color. To get a deeper understanding, check out the link below: Read more... Input Parameters: string str="Madlen v5"; extern string __="Signal delivery"; extern bool cfg_Signal=false; extern string _="Parameters of drawing"; extern int cfg_Period=0; //D1 extern int cfg_MaxBars=5; //number of candlesticks to be drawn extern bool cfg_Ray=true; //drawing by rays or not extern bool cfg_DrawLast=true; //drawing of next to the last candlestick. extern bool cfg_DrawFibo=true; //drawing of Fibo extern string _Session="Settings of sessions drawing"; extern bool cfg_DrawSession=true; extern color cfg_SessionColor1=MediumTurquoise; //European extern color cfg_SessionColor2=Gainsboro; //American extern string _Risks="Risks"; double cfg_RiskLots=0.1; extern  double cfg_Risk=0.01; extern  int    cfg_RiskLevelPoint=25; Madlen 5.0

2008.12.09

MetaTrader4

Mastering Indexes_v4: Your Guide to Multi-Index Tracking

Author: Xupypr Welcome back, fellow traders! Today, we’re diving into the Indexes_v4 indicator, a handy tool that lets you visualize the movement patterns of multiple indexes on a single chart. If you’re looking to streamline your analysis, this might just be the trick you need! One thing to keep in mind is the "auto_detect_pair" parameter. It's crucial to set this to false if you want to manually specify which indexes to display. You can use the "show_USD" option, along with others, to customize your view. By default, this will show all indexes, but feel free to tweak it according to your trading strategy. Don't forget to check out the source code for a detailed breakdown of all parameters; it's worth a look! Another important point to note is that indexes are consolidated into a single point at the start of each week. Essentially, every new week resets the base point, using the closing prices from the previous week. This can significantly impact your trading decisions, so keep it in mind! Curious about the latest version of the indicator? You can find it here. Just a quick reminder: make sure to upload the history of all symbols for the indicator to work effectively.

2008.12.08

MetaTrader4

Understanding the Dollar Index: A Key Tool for Traders

Author: Zmiuka If you’re diving into trading, you’ve probably heard about the Dollar Index, or DXY. This nifty indicator is designed to make your chart analysis a whole lot easier. By plotting the dollar index directly on your chart, it helps you keep a close eye on the USD’s performance against its major currency pairs. Think of the Dollar Index as your trusty sidekick when you’re weighing up short-term trends throughout the trading day. Whether you're scalping or holding positions for the long haul, understanding the strength of the dollar is absolutely crucial. It’s an indispensable tool that can help inform your trading decisions. The Dollar Index in Action Why Use the Dollar Index? Quick Analysis: Easily spot trends in the USD. Informed Decisions: Make better trading choices based on real-time data. Enhanced Strategy: Integrate it into your existing trading strategy for better outcomes. In short, if you’re serious about trading the dollar, adding the DXY to your charts is a no-brainer. It’s like having a compass in the ever-changing seas of forex trading.

2008.12.05

MetaTrader4

Unlocking Trading Success with the MultiStrend Indicator

Author: Rosh If you're looking to elevate your trading game, the MultiStrend Indicator is a tool you won't want to overlook. This powerful indicator is designed to work exclusively with the Supertrend indicator, making it a must-have for traders aiming for precision and clarity in their trades. MultiStrend Why should you consider using the MultiStrend Indicator? Enhanced Decision Making: It helps you identify market trends more effectively. Compatibility: Works seamlessly with the Supertrend indicator, boosting your trading strategies. Easy to Use: Whether you're a newbie or a seasoned trader, you'll find it user-friendly. In conclusion, incorporating the MultiStrend Indicator into your trading toolkit could be the game-changer you've been searching for. Happy trading!

2008.12.05

MetaTrader4

Mastering NonLagAMA: Your Guide to Enhanced Trading Decisions

What is NonLagAMA? The NonLagAMA (Non-Lagging Adaptive Moving Average) is a powerful tool for traders who want to stay ahead of the game. Unlike traditional moving averages, this indicator helps smooth out price fluctuations while reducing lag, allowing you to make quicker and more informed trading decisions. Why Use NonLagAMA? Reduced Lag: As the name suggests, NonLagAMA minimizes the delay often seen with standard moving averages. Adaptive Nature: It adapts to market conditions, making it suitable for various trading styles. Clear Signals: The indicator provides clearer buy and sell signals, helping you spot trends more effectively. Setting Up NonLagAMA To get started with NonLagAMA, here’s a simple walkthrough: Download the Indicator: You can find the NonLagAMA.mq4 file online. Make sure to use a trusted source. Install the Indicator: Place the downloaded file in your MetaTrader 4 (MT4) indicators folder. Configure Settings: Open the indicator settings and adjust parameters like Price, Length, Displace, and Filter according to your trading strategy. Understanding the Code Here’s a brief overview of the key components of the NonLagAMA code: #property indicator_chart_window #property indicator_buffers 3 #property indicator_color1 Yellow #property indicator_color2 RoyalBlue #property indicator_color3 Red The indicator is designed to work on the chart window and utilizes three buffers to display the moving average, upper, and lower bands. You can customize the colors and widths of these lines to suit your preferences. Using NonLagAMA in Your Trading Strategy Once you have the NonLagAMA set up, integrate it into your trading strategy: Identify Trends: Use the indicator to spot upward and downward trends in the market. Confirm Signals: Look for convergence with other indicators to confirm buy or sell signals. Set Alerts: Configure alerts for when the price crosses key levels, so you never miss a trading opportunity. Final Thoughts The NonLagAMA is a fantastic addition to any trader's toolbox. By minimizing lag, it helps you stay on top of market movements. Remember, while it's a powerful tool, always combine it with a solid risk management strategy and other indicators for the best results.

2008.12.05