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Mastering Market Signals: The Consensus of Five Indicator for MetaTrader 5

Mike • 2018-11-20 21:49
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If you’re looking to enhance your trading strategy, the Consensus of Five indicator for MetaTrader 5 might just be the tool you need. This robust solution combines the insights from five different indicators: ADX, DMI, CCI, MACD, and Stochastic.

To generate a reliable direction signal, the outputs from DMI, CCI, MACD, and Stochastic need to align. Meanwhile, the ADX serves as a crucial trend filter — it tells you whether a trend is present, affecting how these four indicators interact. If they indicate a direction but the ADX is in a non-trending zone, you won't receive a direction signal. It's all about ensuring that the market conditions are right before making any moves!

Now, let’s dive into the twenty-one input parameters that you can tweak:

  • Use ADX as trend filter: Activate ADX as a trend filter (Yes/No)
  • Use DMI: Include DMI in your analysis (Yes/No)
  • Use CCI: Include CCI in your analysis (Yes/No)
  • Use MACD: Include MACD in your analysis (Yes/No)
  • Use Stochastic: Include Stochastic in your analysis (Yes/No)
  • ADX period: Set the calculation period for ADX
  • ADX entry level: Define the entry level for ADX positions
  • ADX exit level: Define the exit level for ADX positions
  • DMI period: Set the calculation period for DMI
  • CCI period: Set the calculation period for CCI
  • CCI Buy level: Determine the entry level for CCI Buy positions
  • CCI Sell level: Determine the entry level for CCI Sell positions
  • MACD fast EMA period: Set the fast EMA calculation period for MACD
  • MACD slow EMA period: Set the slow EMA calculation period for MACD
  • MACD Buy level: Define the entry level for MACD Buy positions
  • MACD Sell level: Define the entry level for MACD Sell positions
  • Stochastic %K period: Set the K line calculation period for Stochastic
  • Stochastic %D period: Set the D line calculation period for Stochastic
  • Stochastic slowing: Define the slowing period for Stochastic
  • Stochastic overbought: Set the overbought level for Stochastic
  • Stochastic oversold: Set the oversold level for Stochastic

The MACD signal line calculation period is set to 1, while the Stochastic price field is based on Low/High.

Fig. 1. All indicators + ADX filter


Fig. 2. All indicators without ADX filter


Fig. 3. CCI + MACD + Stochastic without ADX filter


Fig. 4. MACD + Stochastic without ADX filter


Fig. 5. DMI with ADX filter


Fig. 6. DMI without ADX filter


Fig. 7. CCI without ADX filter


Fig. 8. MACD without ADX filter


Fig. 9. Stochastic without ADX filter



Fig. 10. Stochastic without ADX filter + Stochastic oscillator


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