BinaryWave_HTF_Signal - indicator for MetaTrader 5

The BinaryWave_HTF_Signal indicator shows a trend direction or a signal generated by the BinaryWaveSign indicator at the chosen bar as a graphical object with colored indication of trend or trade direction. It also triggers alerts and plays audio signals.

If the trend continues at the selected bar, the indicator displays a right arrow. Its color corresponds to the trend direction. If the trend has changed at the selected bar, the indicator displays a diagonal arrow. Its color and direction correspond to the trade direction.

All input parameters can be divided into three large groups:

1. The 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;
   

2. The BinaryWave_HTF_Signal indicator input parameters that are necessary for the indicator visualization:

   //---- 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
   

3. The BinaryWave_HTF_Signal indicator input parameters that are necessary for triggering alerts and audio signals:
   

   //---- alerts settings
   input ENUM_ALERT_MODE alert_mode=OnlySound;  // Triggering option
   input uint AlertCount=0;                     // Number of alerts
   

If several BinaryWave_HTF_Signal indicators are to be used on one chart, each of them should have its own Symbols_Sirname (indicator labels names) string variable value.

This indicator requires the the compiled indicator file BinaryWaveSign.mq5. Place it in <terminal_data_folder>\MQL5\Indicators\.

Fig.1. BinaryWave_HTF_Signal. Signal of trend continuation

Fig.2. The BinaryWave_HTF_Signal indicator. Signal for trade