Mastering Market Trends with the SnakeInBorders Indicator for MetaTrader 5

Author: Bookkeeper

If you’re looking to navigate the market’s twists and turns, the SnakeInBorders indicator for MetaTrader 5 is a tool you won't want to overlook. This nifty indicator calculates a filtered market channel, bounded by the BorderTopBuffer and BorderBotBuffer. It also generates a useful signal referred to as MartBuffer.

Key Features of SnakeInBorders

Smoothing Method: Choose your preferred smoothing technique with Smooth_Method (default is XMA_Method=MODE_LWMA_).
Snake Range: Set the half-period for Snake calculations with SnakeRange=2.
X Phase: Control the first averaging parameter with XPhase=15. This affects the quality of transitions.
Filter Period: Use a filtering period defined by FilterPeriod=24 to enhance your signals.
Market Filtering Ratio: Adjust MartFiltr=2 for a narrower market channel—just right for your strategy.
Indicator Shift: Fine-tune the indicator's position using Shift=0 for horizontal and PriceShift=0 for vertical adjustments.
Color Customization: Set your channel colors with Upper_color=clrMediumSeaGreen and Lower_color=clrRed.

Understanding Mart Signal Behavior:

The Mart signal behaves interestingly within the channel. When the market trends upward, the signal line moves away from the lower boundary, crosses the channel, and aligns with the upper border. The reverse happens when the market trends downward.

In a directional market, the signal line tends to stick to the respective channel border. When the channel widens, it indicates a strong movement, while a narrowing channel suggests fluctuations. As the channel tightens, the signal line will oscillate between the borders. Once it hits the opposite border, the channel begins to expand again.

SnakeInBorders can function as a standalone tool, allowing you to analyze signal line movements across various timeframes. You can also use it to build other indicators, substituting Mart for bar prices. For indicators like MA, OA, or AC, set HardCalc=true. For those like ZigZag or Channel, use HardCalc=false, and adjust MartFiltr to a range of 3 to 5. This helps differentiate between genuine and false peaks; if a peak is intermediate, the Mart signal line won't align with the border.

This indicator leverages the SmoothAlgorithms.mqh library classes, which you’ll need to copy to your <terminal_data_folder>/MQL5/Include directory. For more detailed insights, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Originally developed in MQL4, this indicator made its debut in CodeBase back on December 19, 2006.

Fig1. The SnakeInBorders indicator

Mastering Market Trends with the SnakeInBorders Indicator for MetaTrader 5

Key Features of SnakeInBorders

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