Understanding the METRO Stochastic HTF Signal Indicator for MetaTrader 5

The METRO Stochastic HTF Signal indicator is a valuable tool for traders using MetaTrader 5. It visually represents the trend direction and provides trading signals based on the METRO Stochastic Sign indicator. With its colorful graphics and alert system, you can easily identify when to enter or exit trades.

When the trend is strong at the selected bar, the indicator displays a round steering wheel graphic. The color of this wheel indicates the trend direction. If there’s a change in trend, a diagonal arrow appears, pointing towards the new trade direction.

Let’s break down the input parameters for this indicator:

Input Parameters for the METRO Stochastic Sign Indicator:

//+------------------------------------------------+
//|  Indicator input parameters                     |
//+------------------------------------------------+
input string Symbol_=""; // Financial asset
input ENUM_TIMEFRAMES Timeframe=PERIOD_H6; // Indicator timeframe for calculation
input uint KPeriod=5;
input uint DPeriod=3;
input int Slowing=3;
input ENUM_MA_METHOD MA_Method=MODE_SMA;
input int StepSizeFast=5; // Fast step
input int StepSizeSlow=15; // Slow step
input ENUM_STO_PRICE Applied_price=STO_LOWHIGH; // Price type or handle

Display Settings for the METRO Stochastic HTF Signal Indicator:

//---- indicator display settings
input uint SignalBar=0; // Bar number for getting a signal (0 - current bar)
input string Symbols_Sirname=INDICATOR_NAME"_Label_"; // Indicator labels names
input color Upsymbol_Color=clrAqua; // Uptrend symbol color
input color Dnsymbol_Color=clrGold; // Downtrend symbol color
input color IndName_Color=clrDarkOrchid; // Indicator name color
input uint Symbols_Size=60; // Signal symbols size
input uint Font_Size=10; // Indicator name font size
input int X_1=5; // Horizontal name offset
input int Y_1=-15; // Vertical name offset
input bool ShowIndName=true; // Indicator name display
input ENUM_BASE_CORNER WhatCorner=CORNER_RIGHT_UPPER; // Display corner
input uint X_=0; // Horizontal offset
input uint Y_=20; // Vertical offset

Alert Settings for the METRO Stochastic HTF Signal Indicator:

//---- alerts settings
input ENUM_ALERT_MODE alert_mode=OnlySound; // Triggering indication option
input uint AlertCount=0; // Number of generated alerts

If you plan to use multiple METRO Stochastic HTF Signal indicators on the same chart, make sure each one has a unique Symbols_Sirname to avoid overlap.

To get started, ensure you have the compiled METRO Stochastic.mq5 file in your <terminal_data_folder>\MQL5\Indicators\ directory.

Figure 1. The METRO Stochastic HTF Signal indicator A signal of trend continuation

Fig. 2. The METRO Stochastic HTF Signal indicator Signal for trade

Understanding the METRO Stochastic HTF Signal Indicator for MetaTrader 5

Related Posts