Articles on the MQL5 programming and use of technical indicators
Technical indicators constitute an important part of trading, and every trader tries to find something new. The authors of these articles talk about econometrics and machine learning, automatic marking of Elliott Waves and digital filters - everything from the classical methods of analysis to the modern interpretation of classical ideas.
The category features articles that will teach you how to develop a custom indicator and contains unique collections of ready-to-use mathematically explained William Blau's trading ideas.
Add a new article
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Angle-based operations for traders
This article will cover angle-based operations. We will look at methods for constructing angles and using them in trading.
Formulating Dynamic Multi-Pair EA (Part 2): Portfolio Diversification and Optimization
Portfolio Diversification and Optimization strategically spreads investments across multiple assets to minimize risk while selecting the ideal asset mix to maximize returns based on risk-adjusted performance metrics.
MQL5 Wizard Techniques you should know (Part 77): Using Gator Oscillator and the Accumulation/Distribution Oscillator
The Gator Oscillator by Bill Williams and the Accumulation/Distribution Oscillator are another indicator pairing that could be used harmoniously within an MQL5 Expert Advisor. We use the Gator Oscillator for its ability to affirm trends, while the A/D is used to provide confirmation of the trends via checks on volume. In exploring this indicator pairing, as always, we use the MQL5 wizard to build and test out their potential.
MQL5 Wizard Techniques you should know (Part 64): Using Patterns of DeMarker and Envelope Channels with the White-Noise Kernel
The DeMarker Oscillator and the Envelopes' indicator are momentum and support/ resistance tools that can be paired when developing an Expert Advisor. We continue from our last article that introduced these pair of indicators by adding machine learning to the mix. We are using a recurrent neural network that uses the white-noise kernel to process vectorized signals from these two indicators. This is done in a custom signal class file that works with the MQL5 wizard to assemble an Expert Advisor.
Price Action Analysis Toolkit Development (Part 22): Correlation Dashboard
This tool is a Correlation Dashboard that calculates and displays real-time correlation coefficients across multiple currency pairs. By visualizing how pairs move in relation to one another, it adds valuable context to your price-action analysis and helps you anticipate inter-market dynamics. Read on to explore its features and applications.
Market Simulation (Part 14): Sockets (VIII)
Many programmers might assume we should abandon using Excel and move directly to Python, using some packages that allow Python to generate an Excel file for later analysis of results. However, as mentioned in the previous article, although this solution is the simplest for many programmers, it will not be accepted by some users. And in this particular case, the user is always right. As programmers, we must find a way to make everything work.
Elastic net regression using coordinate descent in MQL5
In this article we explore the practical implementation of elastic net regression to minimize overfitting and at the same time automatically separate useful predictors from those that have little prognostic power.
Price Action Analysis Toolkit Development (Part 8): Metrics Board
As one of the most powerful Price Action analysis toolkits, the Metrics Board is designed to streamline market analysis by instantly providing essential market metrics with just a click of a button. Each button serves a specific function, whether it’s analyzing high/low trends, volume, or other key indicators. This tool delivers accurate, real-time data when you need it most. Let’s dive deeper into its features in this article.
Design Patterns in software development and MQL5 (Part 2): Structural Patterns
In this article, we will continue our articles about Design Patterns after learning how much this topic is more important for us as developers to develop extendable, reliable applications not only by the MQL5 programming language but others as well. We will learn about another type of Design Patterns which is the structural one to learn how to design systems by using what we have as classes to form larger structures.
Chaos theory in trading (Part 2): Diving deeper
We continue our dive into chaos theory in financial markets. This time I will consider its applicability to the analysis of currencies and other assets.
Building A Candlestick Trend Constraint Model (Part 4): Customizing Display Style For Each Trend Wave
In this article, we will explore the capabilities of the powerful MQL5 language in drawing various indicator styles on Meta Trader 5. We will also look at scripts and how they can be used in our model.
Codex Pipelines: From Python to MQL5 for Indicator Selection — A Multi-Quarter Analysis of the FXI ETF
We continue our look at how MetaTrader can be used outside its forex trading ‘comfort-zone’ by looking at another tradable asset in the form of the FXI ETF. Unlike in the last article where we tried to do ‘too-much’ by delving into not just indicator selection, but also considering indicator pattern combinations, for this article we will swim slightly upstream by focusing more on indicator selection. Our end product for this is intended as a form of pipeline that can help recommend indicators for various assets, provided we have a reasonable amount of their price history.
From Novice to Expert: Detecting Liquidity Zone Flips Using MQL5
This article presents an MQL5 indicator that detects and manages liquidity zone flips. It identifies supply and demand zones from higher timeframes using a base–impulse pattern, applies objective breakout and impulse thresholds, and flips zones automatically when structure changes. The result is a dynamic support‑resistance map that reduces manual redraws and gives you clear, actionable context for signals and retests.
Price Action Analysis Toolkit Development (Part 37): Sentiment Tilt Meter
Market sentiment is one of the most overlooked yet powerful forces influencing price movement. While most traders rely on lagging indicators or guesswork, the Sentiment Tilt Meter (STM) EA transforms raw market data into clear, visual guidance, showing whether the market is leaning bullish, bearish, or staying neutral in real-time. This makes it easier to confirm trades, avoid false entries, and time market participation more effectively.
Building A Candlestick Trend Constraint Model (Part 5): Notification System (Part III)
This part of the article series is dedicated to integrating WhatsApp with MetaTrader 5 for notifications. We have included a flow chart to simplify understanding and will discuss the importance of security measures in integration. The primary purpose of indicators is to simplify analysis through automation, and they should include notification methods for alerting users when specific conditions are met. Discover more in this article.
MQL5 Wizard Techniques you should know (Part 57): Supervised Learning with Moving Average and Stochastic Oscillator
Moving Average and Stochastic Oscillator are very common indicators that some traders may not use a lot because of their lagging nature. In a 3-part ‘miniseries' that considers the 3 main forms of machine learning, we look to see if this bias against these indicators is justified, or they might be holding an edge. We do our examination in wizard assembled Expert Advisors.
Elements of correlation analysis in MQL5: Pearson chi-square test of independence and correlation ratio
The article observes classical tools of correlation analysis. An emphasis is made on brief theoretical background, as well as on the practical implementation of the Pearson chi-square test of independence and the correlation ratio.
Developing a Replay System — Market simulation (Part 10): Using only real data for Replay
Here we will look at how we can use more reliable data (traded ticks) in the replay system without worrying about whether it is adjusted or not.
MQL5 Wizard Techniques you should know (Part 69): Using Patterns of SAR and the RVI
The Parabolic-SAR (SAR) and the Relative Vigour Index (RVI) are another pair of indicators that could be used in conjunction within an MQL5 Expert Advisor. This indicator pair, like those we’ve covered in the past, is also complementary since SAR defines the trend while RVI checks momentum. As usual, we use the MQL5 wizard to build and test any potential this indicator pairing may have.
Introduction to MQL5 (Part 22): Building an Expert Advisor for the 5-0 Harmonic Pattern
This article explains how to detect and trade the 5-0 harmonic pattern in MQL5, validate it using Fibonacci levels, and display it on the chart.
How can century-old functions update your trading strategies?
This article considers the Rademacher and Walsh functions. We will explore ways to apply these functions to financial time series analysis and also consider various applications for them in trading.
Codex Pipelines, from Python to MQL5, for Indicator Selection: A Multi-Quarter Analysis of the XLF ETF with Machine Learning
We continue our look at how the selection of indicators can be pipelined when facing a ‘none-typical’ MetaTrader asset. MetaTrader 5 is primarily used to trade forex, and that is good given the liquidity on offer, however the case for trading outside of this ‘comfort-zone’, is growing bolder with not just the overnight rise of platforms like Robinhood, but also the relentless pursuit of an edge for most traders. We consider the XLF ETF for this article and also cap our revamped pipeline with a simple MLP.
Triangular and Sawtooth Waves: Analytical Tools for Traders
Wave analysis is one of the methods used in technical analysis. This article focuses on two less conventional wave patterns: triangular and sawtooth waves. These formations underpin a number of technical indicators designed for market price analysis.
Sigma Score Indicator for MetaTrader 5: A Simple Statistical Anomaly Detector
Build a practical MetaTrader 5 “Sigma Score” indicator from scratch and learn what it really measures: The z-score of log returns (how many standard deviations the latest move is from the recent average). The article walks through every code block in OnInit(), OnCalculate(), and OnDeinit(), then shows how to interpret thresholds (e.g., ±2) and apply the Sigma Score as a simple “market stress meter” for mean-reversion and momentum trading.
Creating Custom Indicators in MQL5 (Part 3): Multi-Gauge Enhancements with Sector and Round Styles
In this article, we enhance the gauge-based indicator in MQL5 to support multiple oscillators, allowing user selection through an enumeration for single or combined displays. We introduce sector and round gauge styles via derived classes from a base gauge framework, improving case rendering with arcs, lines, and polygons for a more refined visual appearance.
MQL5 Wizard Techniques you should know (Part 67): Using Patterns of TRIX and the Williams Percent Range
The Triple Exponential Moving Average Oscillator (TRIX) and the Williams Percentage Range Oscillator are another pair of indicators that could be used in conjunction within an MQL5 Expert Advisor. This indicator pair, like those we’ve covered recently, is also complementary given that TRIX defines the trend while Williams Percent Range affirms support and Resistance levels. As always, we use the MQL5 wizard to prototype any potential these two may have.
Creating Custom Indicators in MQL5 (Part 11): Enhancing the Footprint Chart with Market Structure and Order Flow Layers
This article extends the MQL5 footprint chart with market-structure and order-flow layers: volume-profile bars, point of control, value-area highlighting, stacked imbalance detection, absorption zones, and single-print/unfinished markers. We expand bar data structures, add functions for POC/value area, imbalance, and absorption, and build a fixed-order rendering pipeline. You will get ready-to-use inputs, metadata, and drawing utilities to integrate and customize these layers in your indicator.
Building A Candlestick Trend Constraint Model (Part 5): Notification System (Part II)
Today, we are discussing a working Telegram integration for MetaTrader 5 Indicator notifications using the power of MQL5, in partnership with Python and the Telegram Bot API. We will explain everything in detail so that no one misses any point. By the end of this project, you will have gained valuable insights to apply in your projects.
Category Theory in MQL5 (Part 10): Monoid Groups
This article continues the series on category theory implementation in MQL5. Here we look at monoid-groups as a means normalising monoid sets making them more comparable across a wider span of monoid sets and data types..
Creating Custom Indicators in MQL5 (Part 5): WaveTrend Crossover Evolution Using Canvas for Fog Gradients, Signal Bubbles, and Risk Management
In this article, we enhance the Smart WaveTrend Crossover indicator in MQL5 by integrating canvas-based drawing for fog gradient overlays, signal boxes that detect breakouts, and customizable buy/sell bubbles or triangles for visual alerts. We incorporate risk management features with dynamic take-profit and stop-loss levels calculated via candle multipliers or percentages, displayed through lines and a table, alongside options for trend filtering and box extensions.
Building a Volume Bubble Indicator in MQL5 Using Standard Deviation
The article demonstrates how to build a Volume Bubble Indicator in MQL5 that visualizes market activity using statistical normalization. It covers how to work with tick and real volume, compute the mean and standard deviation over a rolling window, and normalize volume values to identify relative strength. You will implement chart objects to display bubbles with dynamic size and color, providing a clear representation of volume intensity directly on the chart.
MQL5 Wizard Techniques you should know (Part 50): Awesome Oscillator
The Awesome Oscillator is another Bill Williams Indicator that is used to measure momentum. It can generate multiple signals, and therefore we review these on a pattern basis, as in prior articles, by capitalizing on the MQL5 wizard classes and assembly.
Building a Liquidity Spectrum Volume Profile Indicator in MQL5
Build a Liquidity Spectrum Volume Profile in MQL5 that allocates volume to equal price bins over a chosen lookback using candle close prices. The guide covers data retrieval with copy functions, binning and normalization, and drawing rectangles and POC lines with chart objects and time offsets to reveal high-activity liquidity zones on the chart.
Creating Custom Indicators in MQL5 (Part 8): Adding Volume Integration for Deeper Market Profile Analysis
In this article, we enhance the hybrid Time Price Opportunity (TPO) market profile indicator in MQL5 by integrating volume data to calculate volume-based point of control, value areas, and volume-weighted average price with customizable highlighting options. The system introduces advanced features like initial balance detection, key level extension lines, split profiles, and alternative TPO characters such as squares or circles for improved visual analysis across multiple timeframes.
Developing a Replay System — Market simulation (Part 18): Ticks and more ticks (II)
Obviously the current metrics are very far from the ideal time for creating a 1-minute bar. That's the first thing we are going to fix. Fixing the synchronization problem is not difficult. This may seem hard, but it's actually quite simple. We did not make the required correction in the previous article since its purpose was to explain how to transfer the tick data that was used to create the 1-minute bars on the chart into the Market Watch window.
Building A Candlestick Trend Constraint Model (Part 6): All in one integration
One major challenge is managing multiple chart windows of the same pair running the same program with different features. Let's discuss how to consolidate several integrations into one main program. Additionally, we will share insights on configuring the program to print to a journal and commenting on the successful signal broadcast on the chart interface. Find more information in this article as we progress the article series.
MQL5 Wizard Techniques you should know (Part 58): Reinforcement Learning (DDPG) with Moving Average and Stochastic Oscillator Patterns
Moving Average and Stochastic Oscillator are very common indicators whose collective patterns we explored in the prior article, via a supervised learning network, to see which “patterns-would-stick”. We take our analyses from that article, a step further by considering the effects' reinforcement learning, when used with this trained network, would have on performance. Readers should note our testing is over a very limited time window. Nonetheless, we continue to harness the minimal coding requirements afforded by the MQL5 wizard in showcasing this.
Data Science and ML (Part 34): Time series decomposition, Breaking the stock market down to the core
In a world overflowing with noisy and unpredictable data, identifying meaningful patterns can be challenging. In this article, we'll explore seasonal decomposition, a powerful analytical technique that helps separate data into its key components: trend, seasonal patterns, and noise. By breaking data down this way, we can uncover hidden insights and work with cleaner, more interpretable information.
Introduction to MQL5 (Part 31): Mastering API and WebRequest Function in MQL5 (V)
Learn how to use WebRequest and external API calls to retrieve recent candle data, convert each value into a usable type, and save the information neatly in a table format. This step lays the groundwork for building an indicator that visualizes the data in candle format.
MQL5 Wizard Techniques you should know (Part 53): Market Facilitation Index
The Market Facilitation Index is another Bill Williams Indicator that is intended to measure the efficiency of price movement in tandem with volume. As always, we look at the various patterns of this indicator within the confines of a wizard assembly signal class, and present a variety of test reports and analyses for the various patterns.