Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
Trading Direction is an indicator that will never go against a long trend, stable, accurate and without the slightest redrawing. The indicator goes through the whole story! You can find settings for any tool for which there is a free TDO utility.
Trade rules.
When a signal appears (always at the bar opening price), we immediately close the opposite position, if it exists, despite the fact of a drawdown or profit. And we open a new position following the arrow in the right direction. And these rules are enough. Even a beginner will understand) Now a description of the parameters from which the essence of the indicator will be clear.
Indicator parameters affect the signal.
- Length - Price averaging to smooth out the impulses of the pure price chart.
- Shift - Shift of the average value.
- Method - Averaging method.
- AppiedPrice - Only use open prices!
- Deviation - When the indicator is looking for an intersection with the price, it will analyze not one intersection point, but a certain number of points, that is, the work is not a line, but a larger part (a band, not a line).
- CamelsHump - The number of bars on which the indicator analyzes the reversal pattern of the market.
- PointNeighborhood - When the indicator is looking for an intersection with another line, it will analyze not one intersection point, but a certain number of points, as if not a point, but a larger part (a circle, not a point).
- WorkOnTrend - work with a trend or a channel (you can optimize the indicator for any option and two work).
- ChangeAnalyzerOn - Correction parameter, not used.
- ChangeAnalyzerLength - Correction parameter, not used.
- ChangeAnalyzerScale - Correction parameter, not used.
- AutoReversTrend - Correction parameter, not used.
Indicator parameters that do not affect the signal are purely service for visualization and the like.
- Spread - Spread, to simulate the average spread, so that the indicator calculates the value for visualization.
- CalcData - All calculations will work on the date range below.
- HistoryStart - The beginning of the history to be analyzed.
- HistoryFinal - End of history for analysis.
- DrawObject - Display graphic primitives for trading visualization.
- ColorOnBalance - highlight in red either balance or profit.
- DrawComment - Show comments.
- ShiftArrow - All signals are at opening prices, but so that the arrows do not load the price chart, you can move them away from prices for convenience.
- DrawBegin - Extra padding to display the chart from the beginning of the story (not used).
- CalcStat - Calculate statistical data (works on a range of dates).
- StartDeposit - Virtual deposit data.
- Leverage - Virtual leverage data.
- Volume - Virtual volume data.
- CustomTargetOptimization - Used for compatibility with the program that optimizes this indicator.
The indicator has many parameters, but I will single out the main ones responsible for the entry points: Length, Deviation, CamelsHump, PointNeighborhood, WorkOnTrend.
Non-changing parameters: Shift, Method, AppiedPrice.
Unused parameters, because they did not justify themselves: ChangeAnalyzerOn, ChangeAnalyzerLength, ChangeAnalyzerScale, AutoReversTrend.
Statistics calculation settings: CalcData, HistoryStart, HistoryFinal.
Parameters for controlling graphic primitives: Spread, DrawObject, ColorOnBalance, DrawComment, ShiftArrow, DrawBegin.
The indicator makes a calculation for visualization and can draw graphical primitives on the chart besides the arrows that will help the user to visually see how the indicator works, and near each point there will be an approximate calculation of profit or drawdown pips and virtual balance. They have nothing to do with the direct operation of the indicator.
This indicator is set to work with EURUSD and H1 by default, but it can work on any instrument and timeframe, in order to carry out such an optimization, you can download a free tool for optimizing this indicator.
For use in experts, everything is simple. Signals appear clearly at opening prices.
- (buffer 0 != 0) - buy signal
- (buffer 1 != 0) - sell signal
