The rewritten indicator is designed to meet forum requests for a simple volume indicator compatible with MT5. It incorporates a Trading Volume Line with three configurable modes: Close Ratio, Open Ratio, and Body Ratio. These modes can be selected via the parameters and are displayed within the indicator window for clarity. This enhancement offers traders customized visualization of volume data, aiding in more informed decision-making. By adjusting the modes, users can tailor the indicator to align with their trading strategies, providing a versatile tool in technical analysis.
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The first article provided foundational insights into chaos theory, emphasizing its relevance in financial market analysis. Key themes included attractors, fractals, and the butterfly effect, with a practical focus on the Lyapunov exponent for analyzing market dynamics. It compared traditional chaos theory with Bill Williams' approach, highlighting differences in theoretical and practical applications. Practical examples using the EURUSD pair demonstrated the applicability of chaos theory in deciphering trading trends.

The second article delves into fractal dimension as a complexity measure in markets. This metric quantifies the complexity and randomness of price movements, aiding in volatility assessment, market mode identification, and strategy optimization. Box-counting method implementation in MQL5 facilitates real-time chart analysis, enabling trade...
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Static variables in MQL5 present a powerful yet challenging concept for programmers, addressing global variable management issues. Unlike Python, MQL5 allows variables to retain values across function calls, enhancing control within code blocks. Static variables avoid inadvertent value loss, crucial in maintaining algorithmic consistency. However, misuse can lead to unexpected outcomes, like turning factorial calculations into power-of-two results. Careful initialization and understanding of lifetime are key. Embracing static variables empowers developers to streamline code without compromising control, benefiting both algorithmic trading efficiency and code integrity in the MetaTrader 5 environment. Understanding these concepts elevates programming precision in financial trading systems.
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Explore the Adaptive Crossover RSI Trading Suite Strategy, a cutting-edge approach using advanced tools within MetaTrader 5's MQL5. This system utilizes adaptive moving average crossovers and a Relative Strength Indicator (RSI) for precise trade confirmations. It improves signal accuracy by filtering out low-probability sessions based on trading days. The strategy's signals are clearly visualized on charts for straightforward interpretation. It also includes a comprehensive dashboard showing real-time strategy status and metrics. Developers and traders will benefit from its strategic blueprint, from programming an Expert Advisor to backtesting performance. A robust and user-friendly technique for navigating diverse market conditions.
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In MetaTrader, while the OnTick() event is automatically triggered with new tick data, detecting the start of a new bar requires manual intervention. This is essential for actions based on new bar formations. The strategy involves monitoring the opening time of the latest bar, as its change indicates a new bar has commenced. The provided method is compatible with both MQL4 and MQL5 languages.

Utilizing a static variable allows persistence of the bar's open time across multiple tick events. Unlike regular local variables, static variables retain their value even after exiting the function, enabling accurate detection of the open time change.

When deploying an Expert Advisor on a chart, the initial code execution assumes a new bar has started. Adjustments might be necessary for different initial conditions. The source code can also be accessed via "Public ...
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In this technical deep dive, we explore the intricacies of developing a replay system in MetaTrader 5 with an emphasis on handling control and mouse indicator modules. The article explains how to integrate these as internal resources and the reasoning behind this strategy. The key takeaway is understanding the distinction between service execution and interaction with chart elements. By embedding the control module within the service, it ensures seamless portability, while the mouse module remains modular for user accessibility. Vital coding practices such as setting up custom symbols and managing event loops are explored, providing insights for developers into building efficient algorithmic trading utilities.
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Algorithmic trading strategies often rely on technical indicators, but standard rules may falter under varying market conditions. The article discusses creating adaptive MetaTrader 5 applications that dynamically adjust trading criteria based on historical market data, focusing on the RSI indicator. By calibrating entry signals to exceed average market moves, the approach minimizes reliance on fixed RSI thresholds, thus enhancing signal quality and eliminating the need for constant optimization. A backtested MQL5 strategy shows significant profit improvement through calculated dynamic thresholds, offering traders enhanced precision and reduced exposure. This technique aids both single-market and multi-symbol analysis, providing a robust framework for algorithmic trading.
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The Negative Volume Index (NVI) is a technical analysis tool for MT4 and MT5 that relies on tick volume, with MT5 also supporting real volume. Developed in the early 20th century and refined in 1976, the NVI functions by adjusting only when the current bar’s volume is less than the previous bar's. Its design includes a solitary oscillating line visible in a distinct chart window, independent of other indicators.

MTF support allows users to display data across different timeframes. It can be switched to display the Positive Volume Index (PVI), highlighting price changes tied to increased volume. However, PVI is often seen as less informative.

The NVI's classical strategy involves confirming trends by observing the NVI's movements, acknowledging susceptibility to false signals similar to other MA crossover strategies. Divergence between price moveme...
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Breakeven Line Indicator is a tool for MetaTrader, designed to calculate the breakeven point across all open positions. It visualizes this level on your chart as a horizontal line. The indicator provides additional metrics, like the total number of trades, total lots, and distance to the breakeven line quantified in points and profit/loss. Compatible with both MT4 and MT5, use Shift + B to toggle the visibility of the breakeven line.

Customization options include ignoring long or short positions, choosing line colors for different cumulative positions, and adjusting line style and width. Text attributes like color, size, and font face are also customizable. A unique ObjectPrefix can be set to prevent conflicts with other chart tools, ensuring seamless functionality.
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The 3rd Generation Moving Average is an enhanced version of the standard moving average for MetaTrader, aimed at reducing lag through a longer MA period. Originally outlined by M. Duerschner in "Gleitende Durchschnitte 3.0," it uses λ = 2 for optimal lag reduction. It's available for both MT4 and MT5 platforms without the need for DLLs. Parameters include MA_Period (default of 50), MA_Sampling_Period (default of 220), MA_Method (set to MODE_EMA), and MA_Applied_Price (set to PRICE_TYPICAL). The indicator provides a responsive alternative to the conventional EMA, with a faster reaction to price changes, although it may still generate false signals. It functions similarly to a standard moving average for identifying trend directions.
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The Aroon Up & Down indicator assists in identifying local tops and bottoms on currency pair charts. Designed for MetaTrader platforms, it offers trading signals for buying and selling based on the position of its lines. A crucial signal is when the indicator lines cross, suggesting an optimal moment to either secure profits or limit losses. This indicator can also notify users through sound and email alerts, if configured. Compatible with both MT4 and MT5, it features adjustable parameters like AroonPeriod, influencing the number and frequency of signals by varying the period length. Adjusting MailAlert and SoundAlert parameters determines the method of alert notification. Trading becomes straightforward by monitoring line positions with respect to the middle range.
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The Basing Candlesticks indicator is a tool for MetaTrader platforms that automatically identifies and marks basing candles on trading charts. A basing candle is defined as one where the body length is less than 50% of its high-low range. On MT4, these are highlighted using histogram lines, while on MT5, custom candles are used. The indicator allows customization of the percentage criterion for defining basing candles through adjustable input parameters. Alerts can be enabled for new basing candle detection, with options for native pop-up alerts, sound notifications, email notifications, and push alerts. These require proper configuration in MetaTrader settings to function effectively, ensuring timely notifications for traders.
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A simple custom MetaTrader indicator is designed for beginners, displaying local tops and bottoms on charts with red and blue dots. This tool identifies these points by analyzing the maximum and minimum values over a specified period, then compares them to the trading range of a currency pair. If a top or bottom is significant, it marks it with a dot. Note that this indicator redraws and should not be used to generate trading signals, as the dots' positions might change. Available for both MT4 and MT5 platforms, its parameters include AllBars, Otstup, and Per, influencing calculation spans and dot frequency. This tool should only aid in identifying support and resistance levels or when developing custom indicators in breakout systems.
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The BMA MetaTrader indicator, based on an idea from a site visitor, is built on the traditional moving average indicator. It appears as three lines: the central line uses the standard MT4/MT5 moving average, with options for simple, exponential, or weighted methods. The upper line is elevated by 2%, and the lower line is decreased by 2%, default settings, serving as support and resistance levels. This indicator is compatible with both MT4 and MT5 platforms. Key input parameters include MA_Period (default 49) for the central line’s period, MA_Shift (default 0) for horizontal chart shifts, and Percentage (default 2) for vertical band adjustments. Effective use suggests applying it to the EUR/USD H4 chart, recommending a sell at the upper band and a buy at the lower band, with moderate stop-loss levels due to potential price breaches or directional change...
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The Bollinger Squeeze Advanced indicator integrates two robust components: the Bollinger Bands and Keltner Channel for a trend "squeeze" measure and a trend strength histogram informed by a choice of eight oscillators: Stochastic, CCI, RSI, MACD, Momentum, Williams % Range, ADX, or DeMarker. The indicator visualizes this data as a color-coded histogram in a separate chart window and supports multi-timeframe analysis and alert options. Compatibility is ensured for MT4 and MT5 platforms under the "Not So Squeezy" system. It aids traders by marking trend strength, showing green bars for uptrends and red for downtrends, with blue thick bars signaling non-trending market phases for range-bound trading strategies.
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The Bollinger Squeeze Basic MetaTrader indicator integrates Momentum, Bollinger Bands, and the Keltner Channel to aid traders in visualizing market conditions. Displayed in its own chart window, it shows a Momentum histogram alongside dots to illustrate the relationship between Bollinger Bands and the Keltner Channel. Available for both MT4 and MT5, it forms part of the Not So Squeezy system.

The indicator employs various parameters such as MaxBars (default 300), BB_Period (default 20), and Keltner_Factor (default 1.5) to customize its application. Alerts can be configured through native pop-ups, email, or push notifications in MetaTrader. Understanding how to interpret the indicator's signals is crucial, as it highlights trading ranges with blue squares and potential breakouts with red squares. The Momentum component signals trend strength via col...
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The Candle Wicks Length Display is a specialized indicator designed for MetaTrader platforms, MT4 and MT5, facilitating the analysis of candle wick lengths directly on trading charts. It allows traders to establish a minimum wick length for display or alternatively highlight wick lengths that are below a specified limit. This tool supports multiple alert types, including visual and sound alerts, email notifications, and push notifications, providing flexibility in alert management.

Traders can configure the indicator with various parameters, such as measuring wicks in standard pips or percentage points, and choose specific colors for wick length displays for both bullish and bearish candles. User-defined settings include upper and lower wick length limits for triggering alerts, with the capability to wait for a candle to close before evaluating wick le...
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The Negative Volume Index (NVI) is a technical indicator available for advanced chart analysis on MT4 and MT5 platforms. It leverages tick volume (or real volume in MT5) to provide insights without relying on standard indicators. Its primary feature includes multi-timeframe support, allowing traders to analyze different timeframe dynamics. Developed by Paul L. Dysart and later refined by Norman G. Fosback, NVI consists of an oscillating line that rises or falls based on decreasing volume, signaling trend strength.

NVI offers two interpretative strategies: a classic method that uses NVI movement as trend confirmation, and a divergence strategy examining discrepancies between price action and NVI for potential reversals. Both approaches require cautious application due to possible false signals. The indicator also accommodates a higher timeframe perspe...
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The CCI Arrows MetaTrader indicator offers traders an efficient tool to determine where the Commodity Channel Index (CCI) crosses the zero line, highlighted by red or blue arrows. This indicator is known for minimal lag and high accuracy, suitable for traders preferring straightforward strategies over complex ones. It is compatible with both MT4 and MT5, supporting various alert types including native pop-up, email, and push notifications, provided MetaTrader is correctly configured.

The primary input parameter, CCI_Period, defaults to 14, balancing lag and false signals. The indicator provides clear buy (blue arrow) and sell (red arrow) signals, advising traders to consider the prevailing trend. In an uptrend, a blue arrow suggests going long; ignore red arrows unless closing a position. In a downtrend, red arrows indicate short positions, while blue arro...
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The Breakeven Line Indicator is an essential tool for MetaTrader users designed to manage open positions efficiently. It determines the breakeven level and represents it on the chart with a horizontal line. The indicator evaluates all trades, calculates the total number of lots, and projects the distance to breakeven in points and profit/loss. It's compatible with MT4 and MT5. Toggle visibility using Shift + B. It offers customizable input parameters, enabling users to tailor calculations and visual presentation to their needs. For instance, set IgnoreLong to true to focus on short positions only. Customize the breakeven line color depending on position type: clrTeal for long, clrPink for short, and clrSlateGray for neutral. Adjust line style and width per preference. Define text appearance through customizable color, size, and font face. ObjectPrefix ...
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The Coppock MetaTrader indicator is a classic tool for identifying long-term market opportunities, originally developed by Edward Coppock in 1962. It identifies buy signals by applying a weighted moving average to the sum of two rates of change. This MetaTrader version allows modification of the basic indicator parameters – ROC1Period (default is 14), ROC2Period (default is 11), and MAPeriod (default is 10). In MT4, the MAType parameter is set to weighted moving average (default is 3), and changes are generally not recommended. The Coppock curve strategy suggests buying as the curve rises from a trough below zero and selling as it falls from a peak above zero, ignoring smaller fluctuations. It aids in tracking early-stage trends without anticipating exact highs and lows. This tool is compatible with both MT4 and MT5 platforms.
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