Indicator update for MT5
8 new indicators for Metatrader 5:
1. Trading Sessions ( author - vdv2001 )
This is the MQL5 version of the popular indicator that draws a vertical lines seperating the different trading session times. It shows the main 3 trading sessions. There are no input parameters because of the functions TimeTradeServer(), TimeGMT() which gets the time updates automatically. You can customize the colors.
2. Color RSI ( author - TheXpert )
RSI - Relative Strength Index Indicator - is a great momentum indicator which compares the average of up and down closes for a specific period of time. You can customize the RSI period and Smooth period and the 4 colors of the lines. The standard RSI value is 14 periods and it can be applied to any time frame. Like with the stochastic indicator, when the RSI is peaking above the 70 level, the market is overbought and when it's exiting the 70 level, downtrend is underway. Read more about trading with RSI here
3. Cross MA ( author - TheXpert )
This indicator draws a fast and a slow moving average and fills the space between them with color. Moving averages are one of the most popular and easy to use indicators available for technical analysis and are used to define areas of possible support and resistance and measure the momentum. You can customize the value of Slow/Fast MA and their color.
4. Color MACD with MA lines ( author - Ray_dl from Forex-TSD, originally posted here )
A great indicator which consists of Color MACD and 2 MA lines. You can customize all settings.
A great tool which can alert you when a certain price level is met. You can get a sound alert ( you can turn it off ) and a e-mail alert! You can use it whenever you wish to be notified of new price levels.
This is a version of the the Fisher Transform indicator which was devised John Ehlers.
It calculates the maximum and minimum price levels from the previous periods and detects direction and strength of the trend and based on this signals trend changes. It can be used as the main trend indicator of a trading system, like a signal indicator: If it is above the zero line you have a buy signal and if it's below the zero line you can look for sell signals. In the input parameters you can specify the period in bars on which the maximum and minimum will be calculated. Read more about the Fisher indicator here.
This indicator is based on the moving average and can be used for detecting trends. You can customize many options and you can also set a sound alert. periodAMA is the MA period, nfast and nslow are noise filters to filter out spikes, G - smoothing setting. You can also customize the colors.
This is the Metatrader 5 version of the popular Laguerre indicator. Laguerre reacts rapidly to price changes and can be used as a signal indicator or as an important component of a trading system. It's using only a few data samples so the indicator can be made to be much more responsive to recent price data. More responsiveness translates to faster reaction times in placing the trades and, consequently, improved profitability due to the reduction in signal lag. It works like a RSI indicator, so buy or sell when certain levels are crossed. Read more about Laguerre here.
You can customize the following input parameters: CountBars - amount of bars based on which the indicator performs calculations. The higher the better. Gamma - smoothing value.