Hey there, fellow traders! Today, we’re diving into a handy tool that could elevate your trading game: the Elliott Wave Oscillator Signal indicator. This semaphore signal indicator is built on the powerful Elliott Wave Oscillator algorithm, designed to help you spot potential trading opportunities.
Input Parameters Explained
Let’s break down the input parameters you’ll be working with:
//+----------------------------------------------+ //| INDICATOR INPUT PARAMETERS | //+----------------------------------------------+ input ENUM_MODE Mode=MODE1; // Choose the signal defining algorithm input Smooth_Method MA_Method1=MODE_SMA_; // Averaging method for the first Moving Average input int Length1=5; // Depth of the first Moving Average input int Phase1=15; // Parameter for the first Moving Average input Applied_price_ IPC1=PRICE_MEDIAN_;// Price constant for the first MA input Smooth_Method MA_Method2=MODE_JJMA; // Averaging method for the second Moving Average input int Length2=35; // Depth of the second MA input int Phase2=15; // Parameter for the second MA input Applied_price_ IPC2=PRICE_MEDIAN_;// Price constant for the second MA input int Shift=0; // Indicator shift in bars input bool Sign=true; // Activate an audio signal when the arrow appears at a closed bar
The indicator utilizes classes from the SmoothAlgorithms.mqh library, so make sure to copy it to <terminal_data_folder>\MQL5\Include. For a deeper understanding of these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. Elliott Wave Oscillator Signal
Related Posts
- Mastering the Open Range Breakout Indicator for MetaTrader 5
- ID Lite Info MA: A Comprehensive Indicator for MetaTrader 5
- Unlock Trading Insights with Volume Profile + Range v6.0 for MetaTrader 5
- Unlocking Trading Insights with Volume Profile + Range v6.0 for MetaTrader 5
- Mastering the Fibonacci ZigZag Indicator for MetaTrader 5