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2015.05.20 15:33
Indicators

QQECandle - indicator for MetaTrader 5

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\MQL5\Include\
qqecloudx.mq5 (8.95 KB)view
qqecandle.mq5 (10.92 KB)view

The QQE indicator implemented as a sequence of candlesticks. Candlesticks appear as a result of relevant price timeseries processed by the QQE algorithm.

In many situations, such approach may be more informative for the purpose of analysis.

input mode Mode=MODE_DIFF; // Algorithm variant

Depending on the value of Mode input parameter, the indicator uses one of the three methods of calculation:

  1. Calculation by the main line;
  2. Calculation by the signal line;
  3. Calculation by the difference between the main and signal lines.

This indicator requires the compiled indicator file QQECloudX.ex5. Place it in <terminal_data_folder>\MQL5\Indicators.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Fig.1. The QQECandle indicator

Fig.1. The QQECandle indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12864

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