Technical Indicator - MetaTrader5 (Page 393)

Unlocking the Neely Method: A Fresh Take on Elliott Wave Analysis

Hey there, fellow traders! If you’ve been delving into Elliott Wave theory, you might want to check out Glenn Neely's innovative approach detailed in his book, “Mastering Elliott Wave.” This method, known as the Neely Method, offers a more structured and objective way to analyze market waves. At the heart of this technique is the concept of a Monowave. This simply refers to the price movement until it shifts direction. You can spot Monowaves by charting the high and low prices over a selected time frame, following the order they appear throughout that period. The Neely Method breaks down into different levels, each with its own name: Monowave, PolyWave, Multiwave, and Macrowave. These levels represent various degrees of price movement, giving you a comprehensive view of the market. The indicator that accompanies this method plots these Monowaves across different time frames. Each Monowave’s start and end points are marked by a dot or small circle, making it easy to visualize trends. Here’s how the levels are color-coded: Monthly: Default color is BlueViolet. Weekly: Default color is Green. Daily: Default color is Blue. Quarter Daily: Default color is Yellow. Don’t worry if you’re not a fan of these colors; you can easily customize them in the indicator’s settings to fit your preferences. I really hope you find this indicator to be a valuable addition to your trading toolkit. Best of luck out there!

2007.07.31

MetaTrader4

Mastering the Waddah Attar ADX and Bollinger Bands Indicator for Trading Success

If you're looking for a powerful yet easy-to-use trading indicator, the Waddah Attar ADX and Bollinger Bands combo is a game changer.   How It Works This indicator effectively synchronizes the Advanced ADX signals with the width of the Bollinger Bands. Essentially, it gives you a clearer picture of market strength and potential price movements.   Customization Options You can easily adjust the ADX and Bollinger Bands periods to suit your trading style. This flexibility allows you to fine-tune the indicator according to your strategy and market conditions.   Visual Representation Here are some visuals to help you get acquainted with the Waddah Attar ADX:   With the Waddah Attar indicator, you'll be equipped to spot powerful ADX signals that could lead to profitable trades. Don’t hesitate to give it a shot!

2007.07.28

MetaTrader4

Mastering FXA0: Your Guide to RSI and ATR Trading

Hey fellow traders! Today, I'm excited to introduce you to my first trading indicator, the FXA0 - RSI Crossing 50 with ATR. It's a game-changer for your trading strategy! Here's how to get started: Simply drop the indicator onto your chart. I recommend using it on an H1 or H4 timeframe. If you decide to switch to a daily chart or go below H1, you'll need to tweak the RSI and ATR settings accordingly. Once it's set up, here's what to look for: You’ll see blue arrows signaling long (buy) positions and red arrows for short (sell) positions. There are two horizontal lines indicating the most recent position—one for your entry point and another for your stop loss. If your entry order gets executed, keep an eye out for a second blue or red arrow. When it appears, consider adding to that position. To manage your trades, close one lot using the green check box and the next one when the opposite colored arrow shows up. Quick tip: If you receive a blue or red arrow that goes against your entry, it's wise to close all orders in that direction and look for opportunities in the opposite direction. For more insight, check out this article by Jamie Saettele. Happy trading and enjoy!

2007.07.13

MetaTrader4

Mastering the Waddah Attar Strong Level Indicator for Trading Success

If you're looking to elevate your trading game, the Waddah Attar Strong Level Indicator is a tool you won't want to overlook. This handy indicator helps you identify significant levels and ranges across multiple time frames—Month, Week, Day, and H4. Plus, it allows you to backtest your strategies, giving you the edge you need in the market. One of the great features of this indicator is its flexibility. You can easily show or hide any levels you wish to see on your charts, making it customizable to fit your trading style. Visual Insights Check out these charts to see the Waddah Attar Indicator in action: By integrating the Waddah Attar Strong Level Indicator into your trading toolkit, you can better understand market dynamics and enhance your decision-making process. Give it a try, and watch your trading skills soar!

2007.07.05

MetaTrader4

Understanding the Waddah Attar Buy Sell Volume Indicator

If you're a trader looking to get a better grip on market dynamics, you're in for a treat with the Waddah Attar Buy Sell Volume Indicator. This tool is a game-changer that separates buy volume from sell volume, giving you insights like you've never seen before. With this indicator, you can easily visualize market sentiment through three distinct histograms: Red: Represents Sell Volume Green: Represents Buy Volume Yellow: Shows the Difference This clear separation allows you to make informed decisions based on the buying and selling pressure in the market.

2007.07.05

MetaTrader4

Mastering the Self-Adjusting RSI: A Game Changer for Traders

In the February edition of Technical Analysis of STOCKS & COMMODITIES, David Sepiashvili introduced a groundbreaking concept for adjusting the overbought and oversold levels of the Relative Strength Index (RSI). What’s really exciting about this method is its versatility; it can be applied across various market conditions without being tied to a specific calculation period. This adaptability makes it a breeze to use the indicator in multi-timeframe analysis. The article showcased two distinct algorithms for tweaking the width of the overbought and oversold bands for the RSI, effectively drawing the RSI along with these self-adjusting levels. When the MA-Method parameter is set to true, the bands are calculated using a moving average-based algorithm. Conversely, if it's set to false, an alternative standard deviation algorithm comes into play.

2007.06.14

MetaTrader4

Unlocking Trading Success with FX5 MACD Divergence Indicator

Hey there, fellow traders!After the success of my original indicator, I've been hard at work creating more tools to help you spot divergences between price and other indicators. Today, I’m excited to introduce the FX5 MACD Divergence Indicator! This nifty indicator plots divergence lines right on the MACD, giving you clear buy and sell signals with green and red arrows. Plus, it comes with a built-in alert feature to keep you on your toes. Just like the original, bullish divergence is represented in green lines, while bearish divergence shows up in red. If the divergence is classic, you’ll see solid lines; if it’s reversed, those lines will be dashed. I truly hope you get the most out of this indicator and that it boosts your trading strategy! What’s New in Version 1.1? This version is tailored for traders who prefer signals that don’t repaint. While the signals are reliable, keep in mind that they might lag by one candle. Happy trading!

2007.06.14

MetaTrader4

Mastering the i-AMA-Optimum: Your Guide to Kaufman's Adaptive Moving Average

Understanding Kaufman's Adaptive Moving AveragePerry Kaufman introduced the Adaptive Moving Average (AMA) to help traders navigate the ever-changing market conditions. Today, we're diving into the i-AMA-Optimum, an optimized version designed for long-term trading.Why Use i-AMA-Optimum?The i-AMA-Optimum is perfect for traders looking to smooth out price fluctuations over extended periods. It adapts to market volatility, providing a clearer picture of the trend. Here’s why you should consider incorporating it into your trading strategy:Adaptability: The i-AMA-Optimum adjusts its parameters based on market conditions, making it a versatile tool.Long-term Focus: Ideal for traders who prefer to hold positions for longer durations without the noise of short-term market movements.Enhanced Decision Making: With its ability to filter out market noise, it helps in making more informed trading decisions.Getting Started with i-AMA-OptimumIntegrating the i-AMA-Optimum into your trading strategy can be a game-changer. Start by familiarizing yourself with its settings and how it performs under different market conditions. Practice on a demo account before applying it to your live trades.By understanding and utilizing Kaufman’s i-AMA-Optimum, you’ll be better equipped to tackle the markets with confidence!

2007.06.07

MetaTrader4

Mastering Divergence: Your Guide to Effective Trading Signals

Divergence is a powerful strategy for identifying potential price reversals at key support and resistance levels. It often provides earlier signals than traditional moving average indicators, making it an invaluable tool for traders. You can apply this technique to a variety of technical indicators to boost your trading results. This indicator specifically plots divergence lines between the price and the OsMA indicator, generating buy or sell signals based on the type of divergence detected. Plus, it has the capability to draw divergence lines for the entire price history available on your chart. Bullish divergence is marked with green lines on both the price and OsMA indicator windows. Conversely, bearish divergence is highlighted with red lines on the same windows. I hope you find this indicator to be a valuable addition to your trading toolkit! Updates and Enhancements: Changes in Version 1.5: Fixed an issue with updating divergence lines as live quotes flow in. Added a sound alert feature, which can be toggled on or off in the indicator settings. Classical divergence is displayed with solid lines, while hidden divergence appears as dotted lines. Changes in Version 2.0: Rebuilt the code from the ground up for improved speed. Eliminated any repainting of signals. Improved signal identification algorithms for greater accuracy. Version 2.1: Corrected an attachment error; this is the final version, designated as version 2.1.

2007.06.05

MetaTrader4

Maximize Your Trading with the i-5Days Indicator

In the fast-paced world of trading, having the right tools at your disposal can make all the difference. One such tool is the i-5Days Indicator, designed to help you keep track of market trends efficiently. Let’s dive into its parameters and see how you can customize it to fit your trading style! Indicator Parameters Explained extern string __1__ = ""; extern int MaxDays = 20; extern int FontSize = 16; extern string FontName = "System"; extern int Offset = 16; extern string __2__ = ""; extern string Text1 = "mon"; extern string Text2 = "tue"; extern string Text3 = "wed"; extern string Text4 = "thu"; extern string Text5 = "fri"; extern string __3__ = ""; extern color Color1 = DodgerBlue; extern color Color2 = DeepPink; extern color Color3 = ForestGreen; extern color Color4 = Coral; extern color Color5 = MediumPurple; extern string __4__ = ""; extern bool ShowDay1 = true; extern bool ShowDay2 = true; extern bool ShowDay3 = true; extern bool ShowDay4 = true; extern bool ShowDay5 = true; With these parameters, you can tailor the i-5Days Indicator to suit your individual trading needs. Whether you want to customize the display or adjust the maximum tracking days, this tool is designed to be user-friendly and efficient. Happy trading, and may your charts be ever in your favor!

2007.06.01

MetaTrader4

Understanding the i-OneThird Trading Indicator: A Guide for Traders

The i-OneThird indicator breaks down the difference between the high and low of a candle into three equal parts, giving you a clear visual representation of market movements. This tool calculates the opening and closing points of the candle, allowing traders to spot potential trends efficiently. To get the most out of this indicator, it's advisable to tweak your chart settings. Specifically, consider hiding the initial chart for a cleaner view by unchecking the "Chart on foreground" option. You can find this setting in the menu under "Charts" -> "Properties" or simply press F8 and navigate to the "Common" tab. Bullish Patterns: 1-1 2-1 3-1 Bearish Patterns: 1-3 2-3 3-3

2007.05.30

MetaTrader4

Mastering the i-HighLow Indicator: A Trader's Guide

Hey traders! Today, let's dive into the i-HighLow indicator, a fantastic tool that helps you visualize price movement by highlighting the highest highs and lowest lows over a specified number of bars. This indicator draws a channel, making it easier for you to spot potential trading opportunities. Here's a quick breakdown of its key parameters: extern int N = 20; - This parameter allows you to search for the highest and lowest values over the last 20 bars. extern int N2 = 5; - This one adds a 5-point offset on the price axis for drawing the channel borders.  

2007.05.21

MetaTrader4

Maximize Your Trading Strategy with the i-Breakeven Indicator

This nifty indicator is a game-changer for traders who love to manage their open positions effectively. The i-Breakeven tool gathers and organizes crucial data on your existing trades, making it a must-have for anyone who enjoys scaling into positions or utilizing the Martingale strategy.

2007.05.18

MetaTrader4

Unlocking Trading Insights with Waddah Attar's RSI Levels Indicator

If you haven’t come across the Waddah Attar RSI Levels indicator yet, you’re in for a treat! This unique tool overlays daily RSI levels on your charts, much like the popular CAMERILLA and Pivot points. Traders swear by its effectiveness, and once you give it a spin, you’ll see why! The Waddah Attar RSI Levels indicator highlights crucial RSI levels (20, 30, 40, 50, 60, 70, 80) that can guide your trading decisions. Plus, you can customize additional levels in its settings to suit your trading style. Whether you’re a seasoned trader or just starting out, this indicator could become a game-changer for your trading strategy. So why wait? Give it a try and see how it can enhance your trading experience!

2007.05.15

MetaTrader4

Understanding the Disparity Index: A Key Tool for Traders

What is the Disparity Index? As traders, we’re always on the lookout for tools that can give us an edge in the market. One such tool is the Disparity Index, a concept popularized by trading expert Steve Nison. This index shows the percentage difference between the latest closing price and a selected moving average. It’s a handy indicator for gauging market momentum and potential reversals. The Math Behind It The Disparity Index can be calculated using the following formula: [ C - Mov(C,X,MA) ] [ Mov(C,X,MA) ] * 100 In this formula, C represents the latest closing price, Mov(C,X,MA) is the moving average based on X periods and the chosen calculation method. Understanding this formula can really help you leverage the Disparity Index effectively in your trading strategy. Diving Deeper If you’re looking for a more comprehensive understanding of the Disparity Index, I highly recommend checking out Steve Nison's book, “Beyond Candlesticks”, particularly Chapter 5. It’s packed with insights that can sharpen your trading skills. Using the Disparity Index in conjunction with other indicators can provide a clearer picture of market trends and help refine your trading approach. Remember, the key to successful trading is not just about understanding individual indicators but how they work together to inform your decisions.

2007.05.10

MetaTrader4

Understanding Stoller Average Range Channels (STARC) for Smarter Trading

Hey fellow traders! Today, we're diving into the fascinating world of Stoller Average Range Channels, or STARC. Developed back in the early 1980s by Manning Stoller, these bands are a unique tool designed to help you navigate market volatility. So, what exactly are STARC bands? Well, they’re calculated using the average true range (ATR), which means they expand and contract based on the market's fluctuations. Here’s how you can easily calculate the bands: Upper Band: SMA(6) + 2 * ATR(15) Lower Band: SMA(6) - 2 * ATR(15) Now, the function of STARC bands is a bit different compared to other band indicators. Here’s the deal: If the price action hits the upper band, it signals a high risk to buy and a lower risk to sell. Conversely, when the price action drops to the lower band, it indicates a high risk to sell and a lower risk to buy. This insight can be a game changer in your trading strategy! By keeping an eye on these bands, you can make more informed decisions and potentially increase your trading success. So, give STARC a shot, and let me know how it works for you!

2007.05.09

MetaTrader4

Mastering Weekly CAMERILLA Levels with the Waddah Attar Indicator

If you're a trader looking to enhance your weekly strategy, the Waddah Attar Indicator is a game-changer. This nifty tool draws weekly CAMERILLA levels—H1, H2, H3, H4, L1, L2, L3, and L4—helping you pinpoint crucial support and resistance levels for your trades.Why Use CAMERILLA Levels?CAMERILLA levels are a favorite among traders for identifying potential turning points in the market. By understanding these levels, you can make more informed decisions about when to enter or exit trades.Backtesting for Better InsightsThe Waddah Attar Indicator comes with backtesting capabilities, allowing you to see how these levels performed in the past. This feature can provide valuable insights into market behavior and help fine-tune your trading strategy.How to Get StartedDownload the Indicator: Make sure you have the Waddah Attar Indicator set up on your trading platform.Set Your Timeframe: Choose the weekly timeframe to generate the CAMERILLA levels.Analyze the Levels: Use the H and L levels to guide your trades, looking for buy or sell signals at these key points.With the Waddah Attar Indicator in your toolkit, you'll be better equipped to navigate the week ahead. Happy trading!

2007.05.07

MetaTrader4

Mastering Daily CAMERILLA Levels with the Waddah Attar Indicator

If you're looking to up your trading game, the Waddah Attar Daily CAMERILLA Indicator might just be what you need. This nifty tool helps you pinpoint Daily CAMERILLA levels including H1, H2, H3, H4, L1, L2, L3, and L4, giving you a solid foundation for your trading strategy.What's great about this indicator is its back-testing capability, ensuring that you can optimize your trading approach based on historical data.Why Use CAMERILLA Levels?Using CAMERILLA levels can provide clarity in your trading decisions. These levels act as potential support and resistance zones, allowing traders to identify entry and exit points more effectively.How to Integrate the Indicator into Your TradingStep 1: Install the Waddah Attar Daily CAMERILLA Indicator on your trading platform.Step 2: Familiarize yourself with the levels it generates daily.Step 3: Use these levels to set your trades, keeping an eye on market sentiment and other indicators.Give it a whirl and see how it enhances your trading strategy!

2007.05.07

MetaTrader4

Mastering the Waddah Attar Weekly Pivot Fibo Indicator for Better Trading

This indicator is a game changer for traders looking to pinpoint key market levels. The Waddah Attar Weekly Pivot Fibo Indicator draws the True Weekly Pivot Line along with seven levels above (R1, R2, R3, etc.) and seven levels below (S1, S2, S3, etc.), all backed by solid backtesting. Since I can't fit all 15 lines into a single indicator, I've created two separate indicators: Waddah_Attar_Weekly_Pivot_Fibo_First.mq4 and Waddah_Attar_Weekly_Pivot_Fibo_Second.mq4. To see all the levels clearly on your chart, just load both indicators.

2007.05.03

MetaTrader4

Mastering the Waddah Attar Pivot Fibo Daily Indicator for Better Trading

The Waddah Attar Pivot Fibo Daily Indicator is a powerful tool for traders looking to enhance their market analysis. This indicator effectively draws the True Pivot Line along with seven resistance levels (R1, R2, R3, etc.) and seven support levels (S1, S2, S3, etc.), complete with backtesting capabilities. Now, you might be wondering why two separate indicators are used instead of one. Well, the reason is simple: I couldn’t fit all 15 lines into a single indicator. So, to ensure you have a clear view of all the levels, I created two indicators that work in tandem. Make sure to place both indicators on your chart to visualize every critical level. Using the Waddah Attar Pivot Fibo indicator can help you make informed trading decisions by identifying key levels where price action might react. Whether you're a seasoned trader or just starting out, integrating this tool into your strategy can be a game changer. Getting Started with the Waddah Attar Pivot Fibo Indicator Installation: Download both Waddah_Attar_Pivot_Fibo_First.mq4 and Waddah_Attar_Pivot_Fibo_Second.mq4 and add them to your trading platform. Chart Setup: Load both indicators onto your chart to see all pivot levels displayed clearly. Trading Strategy: Use the pivot levels as potential entry and exit points in your trading strategy. Give the Waddah Attar Pivot Fibo Daily Indicator a try, and you might just find it to be a valuable addition to your trading toolkit!

2007.05.03