Indicator Name: Kuskus Starlight
Description:
Kuskus Starlight is a powerful technical indicator that operates as an oscillator. It employs a Fisher price transformation to help traders pinpoint potential market trends and reversals. The indicator is normalized over a specific range of periods, with adjustable smoothing parameters, so you can fine-tune its responsiveness to suit your trading style. Many traders appreciate it as a confirmation tool, validating trade signals within their systems.
Background:
I stumbled upon the Kuskus Starlight indicator through Stonehill Forex and the popular No Nonsense Forex (NNFX) YouTube channel. Both have showcased its effectiveness as a confirmation indicator in their trading frameworks. According to Stonehill Forex, this indicator has been around since 2007, while NNFX notes that it gained traction in 2017.
For more in-depth insights and applications of the Kuskus Starlight indicator, check out these resources:
Stonehill Forex's article: Kuskus Starlight as a Confirmation Indicator
NNFX's YouTube video: Kuskus Starlight Indicator
Why I Coded It:
As a MetaTrader 5 (MT5) user, I found there was no version of the Kuskus Starlight indicator available for MT5. Realizing its potential for traders using this platform, I took it upon myself to code it, ensuring that it maintains the original algorithm's functionality and integrity.
Original MT4 Code and Algorithm:
The original version of this indicator was created for MetaTrader 4 (MT4) by Scriptor and can be found here. My MT5 adaptation is based on this code, preserving its core principles while making it accessible to the MT5 community.
I genuinely hope the MT5 version of Kuskus Starlight adds value to your trading toolkit!
Indicator Settings: DrawType Options
DrawType Options: Line
DrawType Options: Histogram
DrawType Options: StaryStaryNight
Arrow Type Options: Choose from many arrow types
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