The BinaryWave_HTF_Signal indicator is a powerful tool designed for MetaTrader 5 that helps traders identify trend directions and generates signals using the BinaryWaveSign indicator. With its easy-to-read graphical representation, it visually indicates the trend or trade direction with colors and shapes. Plus, it provides alerts and audio signals to keep you in the loop.
When the trend persists at your selected bar, you’ll see a right arrow. The color of this arrow matches the trend direction. If there's a shift in the trend at that bar, a diagonal arrow will appear, with its color and direction reflecting the new trade direction.
The input parameters for this indicator can be divided into three main groups:
- BinaryWaveSign Input Parameters:
input string Symbol_=""; // Financial asset input ENUM_TIMEFRAMES Timeframe=PERIOD_H6; // Timeframe for indicator calculation //--- indicators weight. If zero, the indicator doesn't take part in the wave calculation input double WeightMA = 1.0; input double WeightMACD = 1.0; input double WeightOsMA = 1.0; input double WeightCCI = 1.0; input double WeightMOM = 1.0; input double WeightRSI = 1.0; input double WeightADX = 1.0; //---- Moving Average parameters input int MAPeriod=13; input ENUM_MA_METHOD MAType=MODE_EMA; input ENUM_APPLIED_PRICE MAPrice=PRICE_CLOSE; //---- MACD parameters input int FastMACD = 12; input int SlowMACD = 26; input int SignalMACD = 9; input ENUM_APPLIED_PRICE PriceMACD=PRICE_CLOSE; //---- OsMA parameters input int FastPeriod = 12; input int SlowPeriod = 26; input int SignalPeriod = 9; input ENUM_APPLIED_PRICE OsMAPrice=PRICE_CLOSE; //---- CCI parameters input int CCIPeriod=14; input ENUM_APPLIED_PRICE CCIPrice=PRICE_MEDIAN; //---- Momentum parameters input int MOMPeriod=14; input ENUM_APPLIED_PRICE MOMPrice=PRICE_CLOSE; //---- RSI parameters input int RSIPeriod=14; input ENUM_APPLIED_PRICE RSIPrice=PRICE_CLOSE; //---- ADX parameters input int ADXPeriod=14; //---- wave smoothing input Smooth_Method bMA_Method=MODE_JJMA; // Averaging method input int bLength=5; // Smoothing depth input int bPhase=100; // Smoothing parameter // for JJMA it varies within the range -100 ... +100 and influences the quality of the transient process;
- Indicator Visualization Settings:
//---- indicator display settings input uint SignalBar=0; // Bar number for getting a signal (0 - current bar) input string Symbols_Sirname=INDICATOR_NAME"_Label_"; // Indicator labels names input color Upsymbol_Color=clrLimeGreen; // Uptrend symbol color input color Dnsymbol_Color=clrMagenta; // Downtrend symbol color input color IndName_Color=clrDarkOrchid; // Indicator name color input uint Symbols_Size=60; // Signal symbols size input uint Font_Size=10; // Indicator name font size input int X_1=5; // Horizontal name offset input int Y_1=-15 // Vertical name offset input bool ShowIndName=true; // Display the indicator name input ENUM_BASE_CORNER WhatCorner=CORNER_RIGHT_UPPER; // Location corner input uint X_=0; // Horizontal offset input uint Y_=20 // Vertical offset
- Alert and Audio Signal Settings:
//---- alerts settings input ENUM_ALERT_MODE alert_mode=OnlySound; // Triggering option input uint AlertCount=0; // Number of alerts
If you plan to use multiple BinaryWave_HTF_Signal indicators on the same chart, make sure each one has a unique Symbols_Sirname value (indicator label name) to avoid confusion.
Don't forget, this indicator relies on the compiled indicator file BinaryWaveSign.mq5. You'll need to place it in your <terminal_data_folder>\MQL5\Indicators\ directory.
Fig.1. BinaryWave_HTF_Signal. Signal of trend continuation
Fig.2. The BinaryWave_HTF_Signal indicator. Signal for trade
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