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- Published:
- 2023.07.30 15:19
- Updated:
- 2023.09.03 18:46
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My goal was to make an indicator that triggers signals when the market price cuts the moving average.
The moving average period length can be user defined (default is 200 length). The amount of points of price movement above and below the MA to be considered a signal; is also user defined in the inputs.
If shorter timeframes are used such as the 2 minute or 5 minute TF, the points number needs to be low (roughly 15 - 20) as price is moving by less points on these timeframes.
If the 1 hour timeframe or higher is used, a points number of 80 or higher should be used to smooth out the signals.
The signals are in essence based on price moving above or below the line, and the purpose of the indicator is to catch such events sooner rather than later.
Indicator Inputs Explained
| Input | Description |
|---|---|
| Moving Average Length | The period length of the moving average line. |
| Audio Alert Sample | The user defined name of the audio sample which should match the name of the actual audio sample (must be placed in data_folder/MQL5/Files) |
| Enable Audio Alerts | Set to true or false depending on whether the indicator should trigger audio alerts |
| Amount of Points on MA Crossover | This is the user defined amount of points of price movement that should trigger signals for the bars moving over the MA |
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