The primary function of this indicator is to assess the possibility of price maximums and minimums. It begins by gathering historical price data for analysis. By evaluating the current market conditions and comparing them to historical statistics, the indicator generates signals. These signals can serve as an auxiliary filter to predict potential market reversals.

Key parameters include iPeriod, denoting the period length with a minimum of 2, and History, indicating the number of bars analyzed for statistical collection. A History value of 0 implies a comprehensive analysis of all data. Be aware that larger history values may slow down initialization. The Percent parameter sets the signal threshold; a higher value results in less frequent alerts. Initial calculations may require additional time due to the extensive statistical gathering process.

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #Indicator

The challenge of maintaining a consistent position for chart arrows has been noted. Typically, when an arrow is added, scrolling can result in its displacement, leading to visibility issues. This variability in position can hinder clear analysis, as the arrows might not correspond accurately to specific chart points. The provided code resolves this inconsistency by ensuring that arrows remain in a static, fixed position relative to the bars. This adjustment is crucial for clarity in data representation and analysis, facilitating more reliable decision-making. Consistent arrow placement can significantly enhance the usability of chart observations and historical data analysis.

👉 Read | Quotes | @mql5dev

#MQL4 #MT4 #Indicator

RSD Histogram is currently recognized as a versatile indicator in the market, initially completed in 2018. Significant development efforts have transitioned this tool into its final form, which now operates on a subscription basis. While earlier versions are available for experimentation, the latest iteration incorporates all recent enhancements. The final release aims at providing advanced functionality and is designed to meet the evolving needs of trading analysts and developers. Although the legacy version remains accessible, the subscription model offers sustained updates and support for the latest market demands.

👉 Read | Freelance | @mql5dev

#MQL4 #MT4 #Indicator

Improving library classes involves handling changes in graphical object properties across multiple charts and simplifying event tracking with a custom indicator. We can control standard graphical object properties in the chart window using an event model. Events are handled via the OnChartEvent() handler, which simplifies code and resolves property filling issues upon object creation. However, events from other charts don't directly reach the primary chart's OnChartEvent(). To overcome this, custom events via EventChartCustom() are sent to the primary chart.

This process involves assigning event IDs and transferring them with chart IDs using the lparam parameter, while the object name is sent through the sparam parameter. Thus, events from all charts can be managed by a program on a single chart. The CChartObjectsControl class helps manage event con...

👉 Read | Docs | @mql5dev

#MQL5 #MT5 #Indicator

The "Quarters Theory" indicator segments price movements around a central reference level, enhancing analysis for multiple assets including Forex, stocks, and commodities. This tool provides visual representation of quarter divisions on the chart, aiding in technical analysis by highlighting potential support and resistance levels.

The indicator calculates a flexible base level, with options including current daily close, previous day, week, and month closes, as well as user-defined levels. It supports various units for quarter size, appropriate for different instruments: pips for Forex, points for other assets, percentages of the base level, or fixed price values.

It adapts automatically to distinguish between Forex and non-Forex assets, adjusts pip calculations accordingly, and manages situations with unavailable timeframes. This makes it a versat...

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #Indicator

Discover the essentials of developing a Market Structure Indicator in MQL5, drawing inspiration from Larry Williams' market swing concepts. This indicator identifies short-term, intermediate, and long-term swing points to provide a layered view of market trends, enabling traders to make informed decisions with clarity. By translating price movements into clear visual cues—using circles for short-term swings, double circles for intermediate points, and arrows for decisive long-term trends—this tool helps traders spot market shifts at a glance. Dive into the structured process of coding this indicator in MQL5, equipping both MetaTrader 5 developers and aspiring traders with practical algorithms for market analysis.

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #Indicator

The development of a modified stochastic momentum indicator extends traditional concepts with enhanced insights into bar developments. This approach incorporates the analysis of open, high, low, and close prices, providing a comprehensive view of price movements. Two formulas guide the calculation: one showing absolute price movement, the other expressing it as a percentage relative to average values. Both are switchable via InpFormula parameter for flexibility.

The stochastic momentum evaluates how significantly the closing price diverges from the average of the highest and lowest prices over a specified period. Application isn't limited to the close; open, high, and low values can similarly be analyzed. Persisting above or below the center line signals trends, while line crossings may indicate directional changes. Querying the color buffer offers...

👉 Read | AppStore | @mql5dev

#MQL5 #MT5 #Indicator

The stochastic oscillator, a staple in identifying market reversals, traditionally signals overbought or oversold conditions. Historically, traders capitalize on selling opportunities when overbought and buying when oversold. Rethinking its capabilities reveals potential in trend-following, challenging conventional interpretations. With minor rule adjustments, the stochastic oscillator can effectively identify dominant trends.

The exploration of five stochastic-based strategies showcases versatile applications, with four demonstrating notable performance. By maintaining consistent parameters and randomizing execution delays, real-world trading conditions are mimicked. Emphasizing machine learning, custom features, and ONNX-worthy models, insights emerge, albeit with challenges like persistent noise. Enhancing trading with the stochastic oscillator ...

👉 Read | NeuroBook | @mql5dev

#MQL5 #MT5 #Indicator

When sharing chart snapshots with colleagues, it is crucial to confirm the exact indicator being used. Unlike Expert Advisors, which display their names on the chart, indicators lack this clarity. This can lead to confusion regarding which indicator is present. Implementing code to retrieve and display the indicator's name directly on the chart can alleviate this issue. It ensures clarity and accuracy, particularly if the indicator's version is reflected in the name. This method guarantees analysis with the correct indicator version, facilitating more effective communications and evaluations during technical discussions.

👉 Read | CodeBase | @mql5dev

#MQL4 #MT4 #Indicator

The Range Vector Fibo Logic Indicator is an advanced tool for traders using the "One Candle" and "Daily Breakout" strategies, commonly utilized by institutional traders. Its primary function is to automate key analytical processes such as projecting breakout levels, stop loss zones, and Fibonacci profit targets based on the previous day's volatility.

The tool is particularly beneficial for trading the Daily High/Low Breakout strategy by identifying precise entry points and target levels. Black lines indicate breakout triggers, signaling potential entries when a candle closes beyond these levels. Stop loss levels, depicted by red dotted lines, are set at a 0.9 Fibonacci retracement, warning of setup invalidation if reached. The blue solid lines, representing take profit zones, extend to the 1.25 Fibonacci expansion, marking the day's volatility limit.
...

👉 Read | VPS | @mql5dev

#MQL5 #MT5 #Indicator

A nonlinear smoothing algorithm of the HiLo type has been implemented in this indicator, focusing on processing the extrema of the initial time series, setting it apart from traditional approaches. The indicator offers a streamlined configuration with a single parameter, iPeriod, which defines its period. This simplicity allows for easy integration into existing trading systems while providing robust analytical capabilities. Designed for efficient performance, it adapts specifically to time series fluctuations, enhancing the precision of market trend analysis. Ideal for developers seeking advanced, yet straightforward, technical indicators.

👉 Read | Calendar | @mql5dev

#MQL5 #MT5 #Indicator