Indicators for MetaTrader 5 (MT5)
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The RecentHigh/LowAlert trading indicator displays two lines - high and low levels on the last N bars. By default, the high line is shown in blue and the low line in yellow. Also, the indicator can play a sound file, trigger a pop-up notification and send an email when the current price breaks the levels of recent highs or lows. All notifications can be turned off. If you plan to use email notification, the corresponding data should be entered in the settings window of your MetaTrader platform. Input parameters N (default = 20) - period value for finding recent highs/minimums. SoundAlert (default = true) - if true, then when you...
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The Position Size Calculator calculates position size in lots, using the specified entry/stop loss levels, risk tolerance and current market data, such as account size and currency, and the price of the quoted currency of the traded pair relative to the account currency. The result is displayed as text in the main chart window. The trader can change many parameters, both for calculation and for display. Input parameters EntryLevel (default = 0) - planned position opening price. StopLossLevel (default = 0) - planned stop loss price for the position. TakeProfitLevel (default = 0) - planned take profit price. Optional parameter that is used only for calculating the profit/risk ratio. Risk...
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SchaffTrendCycle trading indicator is a cyclic oscillator, created by calculating the stochastic stochastic (2 times) MACD line, using cycles. The result is an improved version of the oscillator, which does not jump during trends and reacts rather quickly to major changes. It was developed by Doug Schaff, who suggested that currency trends accelerate and decelerate cyclically. His algorithm was published in 2008. Schaff Trend Cycle tries to combine two different approaches to trend direction determination - MACD and smoothed stochastic oscillator. The value of the indicator ranges from 0 to 100. Two key levels are used - 25 and 75. MAShort input parameters (default = 23) - period...
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The Pattern Recognition Master trade indicator displays combinations of Japanese candlesticks on the MetaTrader5 terminal price chart with corresponding symbols. Deciphering of bullish and bearish candlestick patterns is given in the upper left part of the chart. The PatternRecognitionMaster indicator has an alert function when a candlestick pattern appears, for trader convenience. Input parameters Show_Alert (default = true) - if set to true, the signal (alert) will be displayed when the pattern is detected. UseExtraDigit (default = false) - set to true if your broker uses an extra digit (pips) in the quotes. Other parameters - enable and disable the display of individual figures. It is not recommended to change the values of these parameters. The experts of ForTrader magazine think that the indicator...
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The Trade Assistant indicator displays advisory values of Stochastic, RSI and CCI indicators on timeframes from М5 to D1 in the "basement" of the MetaTrader5 terminal chart. The experts of the ForTrader.org journal think that the Trade Assistant information indicator is a good assistant for a trader and will be very useful as a filter in most trading strategies. Download Other informational indicators Stat Informer2 - informational indicator for MT4 Master Money Bot: trader's assistant in money management Strong market levels indicator
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The Dots indicator shows the current trend direction by placing colored dots on the main chart. Blue dots indicate an uptrend and red dots indicate a downtrend. Although the indicator does not base its calculations on the standard indicators of the MetaTrader platform, it uses a call to the iMA (moving average) function to get prices, depending on the type of price (Open, Close, Maximum, Minimum, Typical, etc.) specified by the user. The calculation is based on the cosine of the angle of price change. The trader can modify several input parameters. Input parameters Length (default = 10) - indicator period. The higher the value, the greater the time delay, but the less false signals are shown. AppliedPrice (by default = PRICE_CLOSE) - type of price...
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CoeffofLine indicator for MT5 belongs to the so-called predictors and shows the probable direction of price movement in the future (2-3 bars). When using the CoeffofLine indicator, it is necessary to take into account the dependence of the indicator on the financial instrument, timeframe and period. If the CoeffOfLine indicator turns upwards - buy. To exit the position you should wait for the indicator reversal on the working timeframe and a downward signal from the filtering indicator on a smaller timeframe. If CoeffOfLine on the working timeframe shows a horizontal area, but on the smaller timeframe it is directed downwards (changed direction) - sell. ForTrader experts pay attention to the fact that the CoeffOfLine indicator signals must be filtered additionally. The CoeffOfLine indicator itself can...
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The Real Tick Volume trading indicator for MT5 shows the average volume of each tick, so you can easily identify the entry points of major market participants or determine the tendency to increase or decrease the presence of large players in the market. The Real Tick Volume indicator can be used on almost any timeframe and financial instrument. Real Tick Volume indicator settings In the settings you can specify only the colors of the main indicator and the moving average line (has a fixed period equal to 2-m). Application of Real Tick Volume indicator It is possible to apply this indicator and moreover should be only if you have an idea of what is happening on the market. Usually, the increase in volumes of the average...
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Float indicator analyzes the past history on the chart of a given currency pair and then tries to analyze trends in the current market situation. It shows the beginning and end of trends in a separate chart window, as well as Fibonacci retracement levels and DiNapoli levels in the main window. The trading indicator also shows how long ago the local high and low were. Input parameters of the Float Float indicator (default = 200) - the number of bars for trend analysis. The lower this number, the more recent the data is, but the analysis becomes less accurate. Use_fibos (default = 1) - if 1, Fibonacci levels will be drawn on the chart. If 0, the levels...
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With the X-Lines trading indicator you will be able to get information about support and resistance levels at any time period of any financial instrument. Also, thanks to the dynamic customization function, you will be able to separate weak technical levels from stronger ones. The positional strength of price marks is determined by the author's algorithm. Since the concept of strong and weak levels is relative, the user will be able to customize the percentage ratio of this indicator. In conjunction with volumetric analysis and correct interpretation of financial news, this indicator is a powerful tool for technical analysis. Customizing the X-Lines indicator Customizing X-Lines is very simple. You are given an opportunity to change 3 parameters: Period of analysis - sets the number of bars of the current period, taken into account in the analysis.....
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Keltner Channel trading indicator for MetaTrader 5 terminal is another channel indicator. The indicator displays on the price chart of a currency pair the Keltner Channel, a classic technical analysis indicator developed by Chester Keltner in 1960. The indicator is a bit similar to Bollinger Bands and Envelopes. It uses three chart lines: the middle line is a 10-day simple moving average of "typical" ((high + low + close) / 3) prices, the upper and lower lines are obtained by adding and subtracting the moving average of the daily price range (difference of the Maximum and Minimum) from the middle line. In this way, a channel based on volatility is constructed. Input parameters: MA_Period (default = 10) - period...
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The LRChannel trading indicator for MetaTrader 5 terminal is a representative of the channel indicators class. LRChannel indicator displays regression channels on the price chart. Buy from the lower line and sell from the upper line. ForTrader.org experts recommend using the LRChannel indicator to filter the signals for opening a position with additional filters. Download Indicator You may also be interested in FiboBands Indicator for MT5 - Bollinger Bands on Fibo Levels ZigZag on Parabolic with added Fibo Levels and Channel for MetaTrader 5.
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The CCI Arrows trading indicator for MetaTrader 5 will show you where the standard CCI indicator has crossed zero (by marking this place with a red or blue arrow) to help you decide whether to open a position up or down. It has minimal latency and relatively high accuracy. This simple indicator is a good choice for traders who prefer to trade as simply as possible and don't like complex indicators. Input parameters: CCI_Period (default = 14) - the period of the standard CCI indicator used here. The higher this number, the higher the indicator delay and the less false signals occur. As you can see, this indicator gives direct...
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The BuySell trading indicator for MetaTrader 5 terminal is a modification of the Parabolic Sar indicator and displays a conditional "defense line" of the current trend on the price chart. The trend change is displayed by colored squares, and the trend direction by colored dots. Trend direction is determined by moving average dynamics, support/resistance levels depend on volatility and are calculated using Average True Range (ATR) indicator. ForTrader.org experts believe that the BuySell indicator can be used in trend-following trading strategies. Download indicator Other trend indicators for MetaTrader 5 (MT5) indicator FantailVMA: alternative moving average for MT5 Trend indicator UltraRSI for MT5 Cross MA - trend indicator for MQL5 Hull Moving Average....
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FantailVMA trading indicator for MetaTrader 5 terminal is an alternative to Moving Average indicator. It is a combination of Moving Average and Average True Range indicators. The FantailVMA indicator shows the trend direction during strong movements, while in flat conditions it takes a horizontal position. ForTrader.org experts pay attention to the fact that the FantailVMA indicator is a trend indicator and therefore there is some lag, which is typical for this class of indicators. Nevertheless, the indicator, or a combination of several FantailVMA indicators can be used as a simple filter in trading systems. Download indicator Other trend indicators for MetaTrader 5 (MT5) Trend indicator UltraRSI for MT5 Cross MA - trend indicator on MQL5 Hull Moving....
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Disparity Index is an indicator for the MetaTrader 5 terminal, which is actually an oscillator, but it is focused on working with candlestick reversal patterns. According to the author's assertions, you should use reversal chart patterns very carefully. For this purpose, it is important that the market is in the oversold / overbought zone of the market. In case of the Disparity Index indicator, these are blue and red histogram bars crossing the dynamic oversaturation levels. These levels are calculated as the average value of the price change on each bar for a specified period multiplied by a coefficient for overbought and the inverse value for oversold. According to ForTrader.org experts, using this indicator as an accompanying indicator for trading on candlestick patterns,...
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Cronex T DeMarker GF indicator for MetaTrader 5 looks like a complete system for trading on the currency market, but it represents an oscillator in the form of a histogram, which can be analyzed as a traditional MACD, as well as two moving averages, built on the data of the oscillator. As an entry signal, it is supposed to track the crossing points of the averages: the green one indicates a buy deal, the red one - a sell deal. According to ForTrader.org traders, it is also possible to filter signals with oscillator readings so that they coincide with the direction of the deal. In addition, it is possible to evaluate the strength of the movement by the height of the histogram bars. Download Cronex T DeMarker GF for MetaTrader 5 (\MQL5/Indicators\) Download SmoothAlgorithms.mqh library (\MQL5/Include\)
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FiboBands is an interesting channel indicator for MT5, representing "floating" Fibo levels, the principle of construction of which is identical to the Bollinger Bands indicator. In this case, instead of the ATR standard deviation, the Fibonacci extension of 1.618, 2.618 and 4.326, built in both directions, is used. According to ForTrader.org experts, FiboBands indicator for MT5 can be used in strategies for breakout or breakdown from the channel, depending on the selected currency pair, as well as support and resistance levels as a secondary filter. Download FiboBands indicator for MT5 (\MQL5\Indicators\) Library: SmoothAlgorithms.mqh (\MQL5\Include\)
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Laguerre Oscillator is a popular indicator for Forex traders in recent years. It is an RSI (Relative Strength Index) indicator processed with an adaptive filter of the same name. It was created by John Ehlers, who focused on futures trading. However, modern traders have successfully applied it to the currency market, creating a lot of good trading strategies. Since the Laguerre indicator for MetaTrader 5 is an oscillator, the main signal to open trades for it will be the crossing of overbought and oversold levels, which are most often pairs 90 and 10, 80 and 20, 85 and 15, the experts of ForTrader.org remind. The crossing of the overbought line and the movement of the indicator inside this...
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ZeroLag MACD is a traditional MACD indicator, which you can find in any MetaTrader 5 terminal, but it is built in such a way that the signal is given much earlier (2-3 bars) than in the standard use. According to the experts of ForTrader.org magazine, the fact that the ZeroLag MACD indicator has no time delay in signaling, as well as the moments of divergence/divergence are more clearly expressed, this filter can be an excellent substitute for the standard one for those traders who work in the MT5 terminal. Download ZeroLag MACD indicator for MQL5
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