Technical Indicator

Mastering Trends: Easy Trend Visualizer for MetaTrader 5
MetaTrader5
Mastering Trends: Easy Trend Visualizer for MetaTrader 5

Easy Trend Visualizer is a nifty indicator for MetaTrader 5 that does exactly what it promises. It identifies where trends start and end, as well as areas where there’s no trend at all. This tool, based on the standard ADX (Average Directional Movement Index) indicators, works like a charm and is quick to respond. You’ll find it displayed right in the main chart window, making it easy to spot trends at a glance. What’s more, the Easy Trend Visualizer comes packed with a variety of alerts. You can set notifications for horizontal line appearances, crossovers, and directional arrows, ensuring you never miss a key moment in the market. This indicator is available for both MT4 and MT5 platforms, giving you flexibility depending on your trading setup. Input Parameters ADXperiod1 (default = 10) — This sets the period for the first ADX indicator. ADXperiod2 (default = 14) — This establishes the period for the second ADX indicator. ADXperiod3 (default = 20) — This defines the period for the third ADX indicator. UseAlertHorizontalLine (default = false) — Toggle alerts for when a horizontal line starts. UseAlertUpDownArrows (default = false) — Activate alerts when an up or down arrow appears on your chart. UseAlertHorizontalLineCrossCurrent (default = false) — Set alerts for when a candle crosses the current horizontal line. UseAlertHorizontalLineCrossPrevious (default = false) — Enable alerts for when a candle crosses any of the previous horizontal lines. NumberPHLtoTrack (default = 0) — This defines how many previous horizontal lines to track for alerts. You’ll get alerts when the price crosses and closes above or below one of these lines. IgnorePHLShorterThan (default = 2) — Set the minimum length for previous horizontal lines to be considered for alerts. Lines shorter than this will be ignored to prevent confusion. PHLC_Arrow_Color (default = clrChocolate) — This sets the color for alert arrows on previous horizontal line crosses. CHLC_Arrow_Color (default = clrFireBrick) — This chooses the color for alert arrows on current horizontal line crosses. NativeAlerts (default = true) — If true, the indicator will generate native pop-up alerts. SendEmails (default = true) — If true, alerts will also be emailed. Make sure your email settings are configured correctly in MetaTrader under Tools -> Options -> Email. SendNotifications (default = true) — If true, alerts will be sent as push notifications to your mobile device. Ensure your notifications are set up in MetaTrader via Tools -> Options -> Notifications.

2025.01.30
Mastering Dots Indicator on MetaTrader 5: A Trader's Guide
MetaTrader5
Mastering Dots Indicator on MetaTrader 5: A Trader's Guide

Understanding the Dots Indicator for MetaTrader 5 The Dots Indicator is a fantastic tool for traders looking to gauge market trends. Originally developed by TrendLaboratory back in 2006, this indicator does a great job of visually representing the current trend direction right on your main chart. You’ll spot blue dots signaling a bullish trend and red dots indicating a bearish one. While it doesn't rely on standard MetaTrader indicators, it does make a call to iMA() (moving average) to derive price values based on your selected input type—like Close, Open, High, Low, and so on. The calculations hinge on the cosine of the price change angle, giving you a unique perspective on market movements. Plus, you can tweak several input parameters to suit your trading style. Best of all, it’s available for both MT4 and MT5 platforms. Input Parameters Length (default = 10) — This defines the period for the indicator. A higher value means more lag but fewer false signals, which can help you avoid unnecessary trades. Applied Price (default = PRICE_CLOSE) — Choose the price type you want to use in your calculations. Filter (default = 0) — This handy parameter helps filter out spikes without adding lag, giving you cleaner signals. Deviation (default = 0) — Use this to shift the indicator display vertically, adjusting its placement on your chart. Shift (default = 0) — This allows you to shift the indicator display horizontally, giving you more control over its positioning. For the best results, consider waiting for two dots of the same color before jumping into a trade aligned with the trend. That being said, there are times when this approach may not work as expected. To improve your chances, you might want to use a single dot signal while setting the Filter parameter to around three times the spread of the currency pair in question. This little tweak could give you a better edge!

2025.01.30
Unlocking the Donchian Ultimate Indicator for MT5: Your Trading Edge
MetaTrader5
Unlocking the Donchian Ultimate Indicator for MT5: Your Trading Edge

Discover the Donchian Ultimate Indicator for MetaTrader 5—a sophisticated take on the classic Donchian channel that offers a wealth of features to enhance your trading experience. Customizable period and shift settings for the Donchian channel. Option to toggle the middle line on or off. Multi-timeframe (MTF) functionality for dynamic analysis. Five different methods for calculating channel boundaries. Support and resistance zones displayed near the channel borders. A robust alert system to keep you informed. Highly customizable to suit your trading style. This indicator is displayed directly in the main window and operates without relying on any other standard or custom indicators. You can find the Donchian Ultimate available for MT4, MT5, and cTrader platforms. Input Parameters Period (default = 20) — sets the Donchian channel period. Timeframe (default = Current) — determines the timeframe for channel calculation. If you choose a higher timeframe than your current one, it will display that higher timeframe channel on your current chart. Note that this parameter is disregarded if set to a lower timeframe. Price Type (default = Highest High (Lowest Low)) — specifies the price type for calculations. You can choose from five modes: Highest High (Lowest Low) — the classic Donchian configuration where the upper band is calculated from the Highest High and the lower band from the Lowest Low of the period. Average Highest High, Highest Open (Lowest Low, Lowest Open) — averages the Highest High and Highest Open for the upper band, and the Lowest Low and Lowest Open for the lower band. Average Highest High, Highest Close (Lowest Low, Lowest Close) — averages the Highest High and Highest Close for the upper band, and the Lowest Low and Lowest Close for the lower band. Highest Open (Lowest Open) — uses the Highest Open and Lowest Open to set the bands. Highest Close (Lowest Close) — employs the Highest Close and Lowest Close for the band calculations. Shift (default = 0) — sets the number of bars to shift the indicator. Show Resistance Span (default = true) — displays the upper resistance span on the chart if set to true. Show Support Span (default = true) — displays the lower support span on the chart if set to true. Alert Candle (default = Previous) — determines which candle triggers alerts: Previous for the most recent closed candle or Current for the ongoing candle. Alert About Bullish Crossing of Mid Line (default = true) — alerts you when a candle closes above the middle line from below. Alert About Bearish Crossing of Mid Line (default = true) — alerts you when a candle closes below the middle line from above. Alert About Candle Close Inside Resistance (default = true) — notifies you when a candle closes inside the resistance zone. Alert About Candle Close Inside Support (default = true) — alerts you when a candle closes inside the support zone. Show Alert (default = false) — if set to true, it activates MetaTrader’s built-in pop-up alerts. Send Email (default = false) — if set to true, it enables email alerts through MetaTrader, which must be configured under Tools -> Options -> Email. Send Notification (default = false) — if set to true, it allows push notifications via MetaTrader, which should be set up in Tools -> Options -> Notifications. Using the Donchian Ultimate Indicator While the Donchian Ultimate Indicator, like its classic counterpart, doesn’t directly generate buy or sell signals, it provides valuable insight into the current trend and price movements. For instance, when a trend begins, the upper band will consistently rise, while both bands will flatten during price consolidation. Check out the chart below for a visual representation:

2025.01.30
Mastering Daily Percentage Change in MT5: Your Essential Trading Indicator
MetaTrader5
Mastering Daily Percentage Change in MT5: Your Essential Trading Indicator

Understanding Daily Percentage Change in MT5 — This handy MetaTrader indicator calculates the change in currency rates compared to the previous daily close, displaying it in percentage points right on your main chart. It doesn't just stop at daily changes; you can also track weekly and monthly percentage shifts. Plus, you can customize colors for positive or negative price movements, making it easier to spot trends at a glance. And for those of you working with brokers that operate in unconventional time zones, the Time Shift feature allows you to adjust the end of the trading day as needed. The good news? This indicator works seamlessly on both MT4 and MT5 platforms. Input Parameters General Settings Time Shift (default = 0) — Adjust this value to shift the effective day's end forward or backward. You can set it anywhere between -12 and 12. Show Weekly (default = true) — Setting this to true will display the weekly percentage change on your chart. Show Monthly (default = true) — If you set this to true, the monthly percentage change will also be shown. Appearance Customization Font Size (default = 8) — This is the size of the text that appears on your chart. Arrow Size (default = 10) — This controls the size of the displayed arrows indicating price changes. Up Color (default = clrGreen) — The text and arrow will appear in this color when the price changes positively. Up Arrow (default = "p") — This is the Windings 3 symbol used for the upward arrow. Down Color (default = clrRed) — The text and arrow will be colored this way when the price change is negative. Down Arrow (default = "q") — The symbol for the downward arrow in Windings 3. No Change Color (default = clrBlue) — The color of the text when the price shows no change. Positioning on the Chart X Distance for Text (default = 21) — This defines how far in pixels the daily change text is positioned from the selected corner of your screen. Y Distance for Text (default = 20) — This controls the vertical distance in pixels from the chosen corner to the daily change text. Text Corner (default = CORNER_LEFT_LOWER) — This is the corner of the chart where the daily change text will be displayed. X Distance for Arrow (default = 5) — This sets the horizontal distance in pixels for the daily change arrow from the selected screen corner. Y Distance for Arrow (default = 20) — This is the vertical distance in pixels from the chosen corner to the daily change arrow. Arrow Corner (default = CORNER_LEFT_LOWER) — This is where the daily change arrow will be positioned on the chart. X Distance for Weekly Text (default = 21) — Horizontal distance for the weekly change text from the chosen corner. Y Distance for Weekly Text (default = 35) — Vertical distance for the weekly change text from the selected corner. Weekly Text Corner (default = CORNER_LEFT_LOWER) — Corner for displaying the weekly change text. X Distance for Weekly Arrow (default = 5) — Horizontal distance from the corner for the weekly change arrow. Y Distance for Weekly Arrow (default = 35) — Vertical distance for the weekly change arrow from the corner. Weekly Arrow Corner (default = CORNER_LEFT_LOWER) — Corner for positioning the weekly change arrow. X Distance for Monthly Text (default = 21) — Horizontal distance from the corner for the monthly change text. Y Distance for Monthly Text (default = 50) — Vertical distance for the monthly change text from the corner. Monthly Text Corner (default = CORNER_LEFT_LOWER) — Corner for displaying the monthly change text. X Distance for Monthly Arrow (default = 5) — Horizontal distance from the corner for the monthly change arrow. Y Distance for Monthly Arrow (default = 50) — Vertical distance for the monthly change arrow from the corner. Monthly Arrow Corner (default = CORNER_LEFT_LOWER) — Corner for positioning the monthly change arrow.

2025.01.30
Mastering the Detrended Price Oscillator for MT5 Trading
MetaTrader5
Mastering the Detrended Price Oscillator for MT5 Trading

Detrended Price Oscillator (DPO) for MetaTrader 5 — This handy indicator shows the difference between the current price and a simple moving average that's shifted by (Period / 2) + 1 bars. Unlike the stochastic oscillator, the DPO focuses on short-term trend changes, capturing the price waves within the larger trend. You can find it in a separate window on your chart, and it’s available for both MT4 and MT5 platforms. Input Parameters MA_Period (default = 14) — This sets the period for the simple moving average used in the DPO. BarsToCount (default = 400) — This parameter defines how many bars the indicator will calculate. EnableNativeAlerts (default = false) — When set to true, the indicator will use MetaTrader's native pop-up alerts. EnableEmailAlerts (default = false) — If true, the indicator will send email alerts. Make sure your email settings are configured in MetaTrader under Tools -> Options -> Email. EnablePushAlerts (default = false) — When set to true, the indicator will send push notifications. Ensure notifications are set up in MetaTrader under Tools -> Options -> Notifications. TriggerCandle (default = Previous) — This defines the candle for alerts: Previous for the last closed candle or Current for the ongoing candle. Trading Strategy Trend changes are indicated by the DPO crossing the zero level. However, since this indicator tends to lag, predicting these crosses can be more effective. While it may not be the most accurate tool for direct trading, it can still help confirm short-term trends. Another useful application of the Detrended Price Oscillator is spotting divergences with the price chart. As illustrated in the chart below, significant trend reversals can often be detected by comparing the double top pattern on the price chart with the lower high on the DPO chart.

2025.01.30
Mastering CCI Arrows: Your Go-To Indicator for MT5 Trading Success
MetaTrader5
Mastering CCI Arrows: Your Go-To Indicator for MT5 Trading Success

CCI Arrows Indicator for MetaTrader 5 is a powerful tool designed to help you pinpoint when the Commodity Channel Index (CCI) crosses the zero line. It does this by marking these crucial moments with clear red and blue arrows, guiding you in your decisions to go long or short. With minimal lag and impressive accuracy, this straightforward indicator is perfect for traders who prefer a no-nonsense approach over complex systems. Plus, CCI Arrows is compatible with both MT4 and MT5, making it a versatile choice for any trader. Input Parameters CCI_Period (default = 14) — This parameter determines the period of the CCI used in the indicator. A higher value may result in more lag but will provide fewer false signals. EnableNativeAlerts (default = false) — Set this to true to receive MetaTrader's built-in pop-up alerts whenever an arrow appears. EnableEmailAlerts (default = false) — If you want to receive email alerts when an arrow shows up, set this to true. Make sure your email settings are properly configured in MetaTrader under Tools->Options->Email. EnablePushAlerts (default = false) — Turn this to true if you’d like to receive push notifications on your device when an arrow is triggered. Ensure your notifications are set up correctly in MetaTrader via Tools->Options->Notifications. TriggerCandle (default = Previous) — Choose which candle to base alerts on: Previous for the last closed candle or Current for the ongoing one. As illustrated, this indicator provides clear signals for buying (indicated by a blue arrow pointing up) and selling (shown by a red arrow pointing down). However, it’s crucial to remember that you should not enter a trade if the signal contradicts the prevailing trend. For example, in an uptrend, if you see a blue arrow, go long; but if a red arrow appears, do nothing—just close any long positions you have. Conversely, if in a downtrend and you spot a blue arrow, close your short position without going long; if a red arrow shows up, that’s your cue to go short. In a sideways market, feel free to act on either a blue or red arrow.I recommend placing your stop-loss right at the level where the arrow appears, which you can see when you hover your mouse over it. This way, you can protect your capital while still taking advantage of these signals.

2025.01.30
Maximize Your Trading with the Candle Wicks Length Display Indicator for MT5
MetaTrader5
Maximize Your Trading with the Candle Wicks Length Display Indicator for MT5

Unlock the Power of Candle Wicks with the Candle Wicks Length Display Indicator The Candle Wicks Length Display Indicator for MetaTrader 5 is a game-changer for traders who rely on candle wicks for their trading strategies. This handy tool allows you to view the length of candle wicks directly on your chart in pips, making it easier to spot potential entry and exit points. You can customize it to show only wicks that meet your specific length criteria, ensuring you focus on the signals that matter most. If long wicks are part of your trading strategy, this indicator is a must-have. It helps you stay informed about significant price movements and the precise lengths of those wicks, giving you the edge you need in the market. Key Features of the Candle Wicks Length Display Indicator Units (default = Pips) — Measure wick lengths in standard pips or percentage points. DisplayWickLimit (default = 5) — Set the minimum wick length to display on your chart. DisplayHighWickColorBullish (default = clrRed) — Choose the display color for bullish candle wicks. DisplayHighWickColorBearish (default = clrFireBrick) — Set the color for bearish candle wicks. DisplayLowWickColorBullish (default = clrLimeGreen) — Select the color for the lower wick on bullish candles. DisplayLowWickColorBearish (default = clrGreen) — Customize the color for the lower wick on bearish candles. UpperWickLimit (default = 10) — Minimum upper wick length for alerts. LowerWickLimit (default = 10) — Minimum lower wick length for alerts. WaitForClose (default = true) — Wait for candles to close before measuring wick lengths. TopBottomPercent (default = 0) — Display lengths only for candles where open and close are within a specific percentage. LessThan (default = false) — Mark wicks that are less than or equal to the specified limits. SoundAlert (default = false) — Enable sound alerts when wick limits are reached. VisualAlert (default = false) — Use MetaTrader's pop-up alerts when limits are reached. EmailAlert (default = false) — Get email notifications when limits are breached (requires setup). NotificationAlert (default = false) — Receive push notifications on your device when limits are reached. AlertOnLimit (default = false) — Alerts for wicks exceeding specified limits. AlertOnEqualTopBottomWicks (default = false) — Alerts when upper and lower wicks are of equal length. IgnoreAlertsOnFirstRun (default = true) — Ignore alerts when first attached to the chart. FontFace (default = "Verdana") — Choose the font for wick length display. FontSize (default = 10) — Set the font size for visibility. MaxCandles (default = 500) — Number of candles to process, or set to 0 to process all. UseRawPips (default = false) — Use raw pips instead of calculated values when necessary. ShowAverageWickSize (default = false) — Display the average wick size for better analysis. AvgCandles (default = 50) — Number of candles to analyze for the average wick size. AverageWickSizeColor (default = clrLightGray) — Color of the average wick size display. Corner (default = CORNER_LEFT_UPPER) — Position of the average wick size display on your chart. Distance_X (default = 3) — Horizontal distance from the corner for display. Distance_Y (default = 12) — Vertical distance from the corner for display. DrawTextAsBackground (default = false) — Display the average wick size as background text. RemoveOldLabels (default = false) — Continuously remove text labels beyond the specified limit. ObjectPrefix (default = "CWLD-") — Prefix for chart objects for compatibility.

2025.01.30
Mastering the Bollinger Squeeze Basic Indicator for MT5
MetaTrader5
Mastering the Bollinger Squeeze Basic Indicator for MT5

Bollinger Squeeze Basic Indicator for MetaTrader 5 is a powerful tool that traders can leverage to gauge market momentum. This indicator combines the concepts of Momentum, Bollinger Bands, and the Keltner Channel to provide valuable insights into market movements. The Bollinger Squeeze Basic indicator is presented as a Momentum histogram alongside a series of dots that highlight the relationship between the Bollinger Bands and the Keltner Channel. This versatile indicator is compatible with both MT4 and MT5 platforms, making it accessible for a wide range of traders. Input Parameters MaxBars (default = 300) — sets the maximum number of bars on the chart for indicator application. BB_Period (default = 20) — defines the period for the Bollinger Bands calculation. BB_Deviation (default = 2.0) — sets the deviation parameter for the Bollinger Bands. Keltner_Period (default = 20) — specifies the period for the Keltner Channel. Keltner_Factor (default = 1.5) — determines the multiplication factor for the Keltner Channel. Momentum_Period (default = 12) — sets the period for the Momentum indicator. EnableNativeAlerts (default = false) — when set to true, will use MetaTrader's built-in pop-up alerts for changes in BB/Keltner arrow colors. EnableEmailAlerts (default = false) — when set to true, email alerts will be sent for changes in BB/Keltner arrow colors. Ensure your email settings in MetaTrader are configured properly via Tools->Options->Email. EnablePushAlerts (default = false) — when set to true, push notifications will be sent to your device for changes in BB/Keltner arrow colors. Configure notifications in MetaTrader via Tools->Options->Notifications. TriggerCandle (default = Previous) — specifies which candle to trigger alerts on: Previous for the last closed candle or Current for the ongoing candle. This indicator uses momentum to assess the strength and direction of the trend: Rising momentum above the zero line (indicating an uptrend) is shown with darker green bars. Falling momentum above the zero line (also an uptrend) displays as lighter green bars. Rising momentum below the zero line (indicating a downtrend) is illustrated with darker red bars. Falling momentum below the zero line (also a downtrend) is represented with lighter red bars. Moreover, the Bollinger Squeeze Basic offers an intriguing measure of volatility through its main histogram. The range of blue and red squares on the zero line indicates the relationship between the Bollinger Bands and the Keltner Channel: If you see red squares, it means the Bollinger Bands are outside the Keltner Channel, signaling a strong trend. If you spot blue squares, it suggests the Bollinger Bands are within the Keltner Channel, indicating a flat or sideways market. The main takeaway with this indicator is to identify trading ranges during non-trending phases (indicated by blue squares) and prepare for a breakout when the squares shift to red squares (signifying a trending phase). The histogram will guide you on the strength of the current trend and indicate when it's time to exit a trade as the trend starts to weaken.

2025.01.30
Mastering the Bollinger Squeeze Advanced Indicator for MetaTrader 5
MetaTrader5
Mastering the Bollinger Squeeze Advanced Indicator for MetaTrader 5

Bollinger Squeeze Advanced Indicator for MetaTrader 5 is a powerful tool designed to help traders identify market trends and volatility. This indicator combines two main components: A measure of trendiness based on the Bollinger Bands and the Keltner Channel "squeeze". A histogram that indicates trend direction and strength, utilizing one of eight oscillators: Stochastic, CCI, RSI, MACD, Momentum, Williams % Range, ADX, or DeMarker. The histogram is displayed in a separate window on your chart, with bar colors and widths providing additional insights. It supports multi-timeframe (MTF) functionality and includes various alert options. This indicator is compatible with both MT4 and MT5 versions of the trading platform. Bollinger Squeeze Advanced is part of the Not So Squeezy indicator system, enhancing your trading toolkit. Input Parameters Timeframe (default = Current) — Choose the timeframe for data display. This indicator can show higher timeframe data even on a lower timeframe chart. TriggerType (default = DeMarker) — Select the oscillator for the trend measurement histogram. StochasticPeriod (default = 14) — Set the period for the Stochastic indicator (if selected via TriggerType). CCIPeriod (default = 50) — Set the period for the CCI indicator (if selected via TriggerType). RSIPeriod (default = 14) — Set the period for the RSI indicator (if selected via TriggerType). MACDFastEMAPeriod (default = 12) — Define the fast EMA period for the MACD indicator (if selected via TriggerType). MACDSlowEMAPeriod (default = 26) — Define the slow EMA period for the MACD indicator (if selected via TriggerType). MACDMACDEMAPeriod (default = 9) — Set the signal line period for the MACD indicator (if selected via TriggerType). MomentumPeriod (default = 14) — Set the period for the Momentum indicator (if selected via TriggerType). WilliamsPRPeriod (default = 24) — Set the period for the Williams % Range indicator (if selected via TriggerType). ADXPeriod (default = 14) — Set the period for the ADX indicator (if selected via TriggerType). DeMarkerPeriod (default = 13) — Set the period for the DeMarker indicator (if selected via TriggerType). AlertOnSidewaysTrending (default = false) — If true, the indicator will send alerts when the market shifts from Trending to Sideways and vice versa. AlertOnZeroCross (default = false) — If true, alerts will be triggered when the histogram crosses the zero line or defined levels. AlertAboveLevel (default = 0) — Set an alert level when the indicator's value rises above this threshold. AlertBelowLevel (default = 0) — Set an alert level when the indicator's value falls below this threshold. EnableNativeAlerts (default = false) — If true, the indicator will utilize MetaTrader's native pop-up alerts. EnableEmailAlerts (default = false) — If true, the indicator can send email alerts. Ensure that your MetaTrader is configured correctly via Tools -> Options -> Email. EnablePushAlerts (default = false) — If true, the indicator will send push notifications. Configure these settings in MetaTrader via Tools -> Options -> Notifications. TriggerCandle (default = Previous) — Choose the candle for alerts: Previous for the last closed candle or Current for the ongoing candle. This indicator leverages one of the eight oscillators to gauge the strength and direction of trends, presenting it as a histogram: Green bars above the zero line indicate upward trends. Red bars below the zero line signify downward trends. Moreover, the Bollinger Squeeze Advanced includes a built-in measure of volatility. When the Bollinger Squeeze suggests a sideways market (Bollinger Bands are within the Keltner Channel), the histogram bars turn into thick blue bars. The core idea behind this indicator is to identify trading ranges during non-trending market phases (indicated by blue histogram bars) to capture breakouts when the bars switch back to normal. The histogram not only helps you assess the current trend's strength but also signals when it's time to exit a trade as the trend shows signs of weakening.

2025.01.30
Mastering the BMA Indicator on MT5: Your Guide to Band Moving Averages
MetaTrader5
Mastering the BMA Indicator on MT5: Your Guide to Band Moving Averages

Introducing the BMA Indicator for MetaTrader 5 — the Band Moving Average, crafted from the classic moving average indicator and inspired by community feedback. This handy tool showcases three dynamic lines on your chart: the central line represents the standard moving average (which you can set as simple, exponential, or weighted), while the upper and lower lines are offset by 2% from the central line by default. These additional lines act as key support and resistance levels, helping you make informed trading decisions. You can find this indicator available for both MT4 and MT5 platforms. Input Parameters MA_Period (default = 49): This determines the period for the central moving average line. MA_Shift (default = 0): This allows you to apply a horizontal shift to all lines on your chart. MA_Method (default = Simple): Choose how you want your moving average to be calculated. Percentage (default = 2): This sets the percentage to vertically adjust the upper and lower bands in relation to the central line. For optimal results, try applying this indicator to the EUR/USD H4 chart (as illustrated above). A common strategy is to sell when the price reaches the upper band and to buy when it hits the lower band. Just a heads-up: it’s wise to set a moderate stop-loss level in both scenarios, as prices can occasionally break through these levels or the lines might change direction unexpectedly.

2025.01.30
Beginner's Guide to the MT5 Indicator: Find Local Tops and Bottoms
MetaTrader5
Beginner's Guide to the MT5 Indicator: Find Local Tops and Bottoms

The Beginner's MetaTrader 5 Indicator is a straightforward custom tool designed for traders who want to identify local highs and lows on their charts with easy-to-spot red and blue dots. This handy indicator analyzes the recent maximums and minimums over a specified period and compares them to the current trading range of the currency pair. If a top or bottom stands out as significant, it gets marked with a dot. However, keep in mind that this indicator redraws itself, which means it’s not suitable for generating actual trading signals, as the dot positions can change. Input Parameters AllBars (default = 0) — This setting determines how many bars are used for calculations. Setting it to 0 means it will consider all bars. There’s really no need to tweak this. Otstup (default = 30) — This parameter represents the percentage of the range that is cut off before comparing maximums and minimums. A higher value here will lead to more frequent dot appearances. Per (default = 9) — This defines the period over which maximums and minimums are calculated. The larger the number, the fewer dots will be displayed. Important Note: It's crucial to remember that this indicator should not be used for actual trading decisions. For instance, simply selling when a red dot appears or buying with a blue dot could lead to losses. Instead, this indicator can serve as a quick way to pinpoint support and resistance levels, especially if you’re working with a breakout trading strategy or looking to build your own indicators.

2025.01.30
Unlocking the BB MACD Indicator for MT5: Your Guide to Trend Detection
MetaTrader5
Unlocking the BB MACD Indicator for MT5: Your Guide to Trend Detection

What is the BB MACD Indicator? The BB MACD MetaTrader indicator is a handy variation of the classic MACD (Moving Average Convergence Divergence) that helps traders spot potential trend changes and gauge the strength of ongoing trends. You'll find this indicator displayed in a separate window on your chart, featuring two lines (a blue line and a red line) along with dots that can appear in either green or magenta. A color change in the dots can signal trading opportunities, while the gap between the two lines shows how strong the current trend is. This tool is compatible with both MT4 and MT5. Input Parameters FastLen (default = 12) — This is the period for the fast-moving average, which plays a crucial role in calculating the indicator's dots. SlowLen (default = 26) — This parameter sets the period for the slow-moving average, which is used for the same calculations as the fast moving average. Length (default = 10) — This is the period used for the moving average and standard deviation calculations that affect the indicator's lines. barsCount (default = 400) — This defines the maximum number of bars on the chart that the calculations will consider. StDv (default = 2.5) — This weight multiplier adjusts the impact of the standard deviation in relation to the moving average. EnableNativeAlerts (default = false) — Set this to true to receive MetaTrader's pop-up alerts when the BB MACD color changes. EnableSoundAlerts (default = false) — If you want sound alerts for color changes, set this to true. EnableEmailAlerts (default = false) — Set this to true to receive email alerts on BB MACD color changes. Make sure your email is configured correctly in MetaTrader under Tools -> Options -> Email. EnablePushAlerts (default = false) — If you wish to get push notifications on your device for BB MACD color changes, set this to true. Ensure notifications are set up in MetaTrader via Tools -> Options -> Notifications. SoundFileName (default = "alert.wav") — This is the name of the sound file that will play for alerts if EnableSoundAlerts is true. Looking at the chart example, you'll notice that a buy signal occurs when the magenta dots turn green, while a sell signal appears when the green dots switch back to magenta. It's generally best to trade when the blue and red lines are fairly wide apart, indicating a robust trend.

2025.01.30
Mastering Basing Candlesticks with MT5: Your Ultimate Guide
MetaTrader5
Mastering Basing Candlesticks with MT5: Your Ultimate Guide

Basing Candlesticks Indicator for MetaTrader 5 is a handy tool that automatically spots and marks basing candles on your trading charts. So, what exactly is a basing candle? It's a candle that has a body length that's less than 50% of its high-low range. With this indicator, you can easily identify these basing candles, thanks to the histogram lines in MT4 or custom candles in MT5, all displayed right on your main chart. Plus, you have the flexibility to adjust the percentage criteria through the input parameters. And if you want to stay updated, you can set alerts for when a new basing candle pops up! Input Parameters Percentage (default = 50) — This is the percentage used to compare the ratio of the candle's body to its high-low range. TriggerCandle (default = 1) — This specifies the candlestick number to check for alerts. Setting this to "1" means you're looking at the most recent fully formed candlestick, while "0" refers to the current one, which is still forming. EnableNativeAlerts (default = false) — If set to true, you'll receive MetaTrader's native pop-up alerts when a new basing candle appears. EnableSoundAlerts (default = false) — Set this to true to enable sound alerts for new basing candles. EnableEmailAlerts (default = false) — If you want email notifications for new basing candles, set this to true. Just make sure your email is correctly configured in MetaTrader under Tools->Options->Email. EnablePushAlerts (default = false) — Set this to true to get push notifications sent to your device when a new basing candle appears. Ensure your notifications are set up in MetaTrader via Tools->Options->Notifications. AlertEmailSubject (default = "") — You can add extra text for the subject line of your alert emails. AlertText (default = "") — Use this space to include additional text for your alerts. SoundFileName (default = "alert.wav") — This is the name of the sound file that will play when an alert is triggered, provided EnableSoundAlerts is set to true.

2025.01.30
Mastering the Aroon Up and Down Indicator for MT5: Your Ultimate Trading Guide
MetaTrader5
Mastering the Aroon Up and Down Indicator for MT5: Your Ultimate Trading Guide

If you’re looking to sharpen your trading skills, the Aroon Up and Down indicator for MetaTrader 5 is a fantastic tool to add to your arsenal. This handy indicator helps you pinpoint local tops and bottoms on your charts, giving you clear signals for buying and selling currency pairs. When the price starts rising from the bottom or falling from the top, the Aroon indicator has your back! How the Aroon Indicator Works The magic really happens when the indicator lines cross. This crossing provides a strong signal to either take profit or exit with minimal loss. Plus, it’s not just about visual cues; this indicator can send you sound and email alerts whenever those crucial crosses occur. You can use it on both MT4 and MT5, giving you flexibility no matter your platform. Input Parameters AroonPeriod (default = 14): This parameter sets the look-back period for the indicator. A longer period results in smoother output lines, while a shorter period generates more signals. Choose based on your trading style! MailAlert (default = false): Enable this if you want email alerts when a cross happens, based on your MetaTrader email settings. SoundAlert (default = false): Turn this on to receive sound and visual alerts when a cross occurs. Example of Aroon Up & Down Indicator on a MetaTrader Chart As shown in the chart above, trading becomes a breeze when you follow this indicator. When the blue line rises from the bottom and the red line hovers around the middle of the range, it’s time to buy. Conversely, when the blue line drops from the top and the red line is near the middle, it’s a signal to sell. For exiting, aim for profit or minimize losses when the red line hits the opposite side of the range. In conclusion, the Aroon Up and Down indicator is a straightforward yet powerful tool that can enhance your trading strategy. Give it a try and see how it can help you navigate the forex markets with confidence!

2025.01.30
Unlocking the 3rd Generation Moving Average for MT5: A Trader's Guide
MetaTrader5
Unlocking the 3rd Generation Moving Average for MT5: A Trader's Guide

The 3rd Generation Moving Average is a sophisticated upgrade of the traditional moving average (MA) indicator designed specifically for MetaTrader. This innovative tool employs a clever lag-reducing technique based on an extended MA period, which was first detailed by M. Duerschner in his insightful article, Gleitende Durchschnitte 3.0. Using a lambda (λ) value of 2, this version optimally minimizes lag, ensuring that your signals are more timely. Keep in mind that increasing the λ value will make it more similar to the classic moving average. This indicator is available for both MT4 and MT5 platforms and doesn’t require any external DLLs to function. Input Parameters MA_Period (default = 50) — This sets the period for the 3rd Generation Moving Average. MA_Sampling_Period (default = 220) — This is the sampling period for the moving average and should be at least four times greater than the MA_Period. MA_Method (default = MODE_EMA) — This indicates the method used for calculating the moving average. MA_Applied_Price (default = PRICE_TYPICAL) — This defines the price type applied for the moving average. As illustrated in the chart, the 3rd Generation MA (red line) demonstrates slightly reduced lag compared to the conventional EMA (blue line), allowing it to react to price movements more swiftly. However, it’s important to note that it can still experience lag and may generate false signals at times. Overall, you can utilize the 3rd Generation Moving Average in a manner similar to the standard moving average — primarily to gauge the current trend direction. Happy trading!

2025.01.30
Master Your Trades with the Breakeven Line Indicator for MT5
MetaTrader5
Master Your Trades with the Breakeven Line Indicator for MT5

What is the Breakeven Line Indicator? The Breakeven Line Indicator is a handy tool for traders using MetaTrader 5 (MT5). It calculates your breakeven level based on all open positions and displays it right on your chart as a horizontal line. This powerful indicator also keeps track of the total number of trades, the cumulative lots, and the distance to the breakeven line in both points and profit/loss. Plus, it’s available for both MT4 and MT5, making it versatile for every trader's needs. You can easily toggle the breakeven line on or off by using the Shift + B keyboard shortcut. The indicator comes packed with multiple input parameters that let you customize the calculations and the appearance of the line to suit your trading style. Input Parameters IgnoreLong (default = false) — When set to true, this option will have the indicator ignore long positions, calculating the breakeven line based only on short positions. IgnoreShort (default = false) — If you set this to true, the indicator will disregard short positions and calculate the breakeven line based solely on long positions. line_color_buy (default = clrTeal) — This sets the color of the breakeven line when your total cumulative position is long. line_color_sell (default = clrPink) — This defines the color of the breakeven line when your total cumulative position is short. line_color_neutral (default = clrSlateGray) — This sets the color of the breakeven line when your total cumulative position is neutral. line_style (default = STYLE_SOLID) — Choose the style for your breakeven line. line_width (default = 1) — Adjust the width of the breakeven line to your preference. font_color (default = clrSlateGray) — Set the color of the text displayed with the breakeven line. font_size (default = 12) — Specify the size of the text. font_face (default = "Courier") — Choose the font style for the text. ObjectPrefix (default = "BEL") — This is the prefix for names of the chart objects, helping to avoid any conflicts with other chart tools you might be using.

2025.01.29
Mastering the Negative Volume Index (NVI) Indicator on MetaTrader 5
MetaTrader5
Mastering the Negative Volume Index (NVI) Indicator on MetaTrader 5

Negative Volume Index (NVI) is a versatile technical indicator available for advanced chart analysis on MT4 and MT5 platforms. It operates based on tick volume (or real volume in MT5) and comes with two valuable features: Support for multi-timeframe (MTF) functionality. Option to switch to the Positive Volume Index (PVI). The NVI is displayed in a separate window below your main chart and doesn’t rely on any standard or custom indicators in its coding. This implementation is available for both MT4 and MT5 users. What is the Negative Volume Index (NVI) Indicator? The Negative Volume Index (NVI) is a classic technical indicator developed by Paul L. Dysart in the early 20th century and later refined by Norman G. Fosback in 1976. It consists of a single oscillating line in a dedicated indicator window that either rises or falls based on the volume of bars that are lower than the preceding bar's volume. How to Use the Negative Volume Index (NVI) Indicator Classic NVI Strategy The traditional interpretation of the NVI suggests that a subsequent movement of the NVI can confirm the strength of a trend. Essentially, a robust trend tends to persist even when volumes are declining. A crossover with its moving average can be viewed as a confirmation of the trend. However, like any MA crossover strategy, this approach can generate false signals or lagging indicators. NVI Divergence Strategy Another approach involves analyzing divergences between the price and the NVI to identify potential trend reversals. For instance, if the price chart is making new higher highs while the NVI is forming lower lows, it may indicate an upcoming long-term downtrend: Unfortunately, these signals can be ambiguous or inaccurate. As with other divergence indicators, it’s wise to seek additional confirmations before making trade decisions. Higher Timeframe Perspective Our version of the NVI allows you to display higher timeframe NVI values on a lower timeframe chart. For example, here’s the EUR/USD on a daily chart, but we’ve attached the NVI indicator from the weekly timeframe: Since the volume on higher timeframe bars can differ significantly from lower timeframe bars, the resulting NVI curve may present a unique view of market conditions. Positive Volume Index (PVI) You can also switch the NVI indicator to calculate and display the Positive Volume Index (PVI). This enables traders to observe price movements that are accompanied by increasing volume. The PVI curve typically mirrors the price chart closely: That said, many traders find the PVI to be less informative than the NVI. NVI Input Parameters Indicator Shift (default = 0) — This parameter allows you to shift the indicator curve horizontally. A positive value shifts it right, while a negative value shifts it left. Timeframe (default = Current) — This specifies the timeframe for calculating the NVI line. Setting it to a higher timeframe will display the NVI on the current chart accordingly; this parameter is ignored if set to a lower timeframe. Positive Volume Index? (default = false) — When set to true, the indicator will calculate the Positive Volume Index instead of the Negative Volume Index. Volume Type (default = VOLUME_TICK) — This allows you to choose the type of volume used in calculations—tick volume or real volume. This option is available only in MT5.

2025.01.29
Understanding the Candle Range Indicator for MetaTrader 5
MetaTrader5
Understanding the Candle Range Indicator for MetaTrader 5

The Candle Range Indicator for MetaTrader is a straightforward and lightweight tool designed for traders. It allows you to see the candle's range in pips simply by hovering your mouse over it. Along with the High/Low range, you can also opt to display the body size (Open/Close) of the candles. This indicator comes with multiple customization options, letting you tailor its appearance to suit your preferences. It’s available for both MT4 and MT5 versions of the platform, so you're covered no matter which one you use. Input Parameters ShowBodySize (default = false) — When set to true, this option will display the size of the candle's body. HavePipettes (default = false) — If you select true, the indicator will consider that the currency pair's quote includes pipettes, adjusting the pip ranges accordingly. TrueRange (default = false) — Setting this to true allows the indicator to calculate the true range, including gaps, instead of the standard range. font_color (default = clrLightGray) — This parameter lets you choose the color of the candle range display. font_size (default = 10) — Customize the size of the candle range text to your liking. font_face (default = "Verdana") — Select your preferred font for the candle range text. corner (default = CORNER_LEFT_UPPER) — This setting allows you to position the candle range indicator anywhere on the chart. distance_x (default = 3) — Adjust the horizontal distance from the chosen corner to the indicator. distance_y (default = 12) — Control the vertical distance from the corner to the indicator. DrawTextAsBackground (default = false) — If you set this to true, the text label showing the candle range value will be drawn as a background, which can help prevent the indicator from obscuring your chart. ObjectPrefix (default = "CR-") — Use this prefix for chart objects to ensure compatibility with other indicators.

2025.01.22
Mastering the Zigzag Fibo Oscillator for MetaTrader 5: A Trader's Guide
MetaTrader5
Mastering the Zigzag Fibo Oscillator for MetaTrader 5: A Trader's Guide

If you're looking to enhance your trading strategy, the Zigzag Fibo Oscillator might just be the quirky tool you need. Built on the MetaQuotes algorithm, this indicator brings some exciting features to the table that can help you make more informed trading decisions. Key Features and Improvements Two Modes: Oscillator and HighLow - The Zigzag Fibo Oscillator has two distinct modes. The Oscillator mode visually illustrates the swings of the Zigzag, even though it’s not a traditional oscillator and doesn’t have a fixed range. In this mode, the extreme low serves as the symbol point value, while extreme highs are treated as usual. HighLow Mode - This mode takes into account the extreme highs and lows like the regular Zigzag. It adds Fibonacci retracement levels that are dynamically scaled to keep them visually fixed. This is particularly handy since prices can fluctuate widely over time, and the dynamic scaling focuses only on the latest extreme swing price. Current Leg Tracking - In both modes, the current leg is displayed even if it’s not confirmed yet. You can choose to track the open, close, high, low, weighted, or typical price for the current bar. This feature helps traders visualize real-time market movements. One unique aspect of this indicator is that it colors the current leg based on the price action: Upward Leg: When the upward leg is being confirmed, it will be colored blue for bullish price action and grey for bearish divergence. Downward Leg: Conversely, if the downward leg is in the process of confirmation, it will be red for bearish price action and grey for bullish divergence. Furthermore, to better reflect real-time price action, the trend color of the unconfirmed leg can also be influenced by volume. Significant bullish volume will override the leg’s color to a bullish hue, while significant bearish volume will do the same in the opposite direction. Visual Aids Here are some visuals to help you better understand how the Zigzag Fibo Oscillator works: Latest Updates Version 1.01: This version saw the fix of some bugs that were reported. Version 1.02: Added more customizability with scaling, included the option to toggle Fibonacci levels, and improved price direction tracking in the oscillator mode. With these features, the Zigzag Fibo Oscillator can be a valuable addition to your trading toolkit. Happy trading!

2025.01.21
Understanding the Trend Equilibrium Indicator (TrendEQ) for MetaTrader 5
MetaTrader5
Understanding the Trend Equilibrium Indicator (TrendEQ) for MetaTrader 5

Settings and Parameters General Parameters Momentum PeriodThis setting determines how many candles are factored in to calculate momentum.Recommended value: 14(Keep in mind: a higher value smooths out the curve but introduces a lag.) Volatility PeriodThis parameter specifies the number of candles used to gauge volatility.Recommended value: 14 Scaling FactorThis adjusts the calculations to ensure the indicator produces a readable curve.Default value: 100,000 Thresholds Overbought LevelThis is the threshold above which the market is deemed overbought.Default value: 100.0 Oversold LevelThis is the threshold below which the market is considered oversold.Default value: -100.0 Functions Trend Determination: Positive values indicate upward momentum, suggesting a bullish trend. Negative values signal downward momentum, pointing to a bearish trend. Volatility Adjustment:This feature allows the indicator to adapt momentum calculations in real-time based on current market volatility, helping you get timely and accurate signals. Overbought/Oversold Signals: Overbought: A signal that the price might be due for a correction. Oversold: A signal that the price could be ready for a rebound.

2025.01.13
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