Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2012.12.24 14:14
Indicators

Kagi On Chart - indicator for MetaTrader 5

| English Русский 中文 Español Deutsch 日本語 Português

Views:
5582
Rating:
votes: 24
kagionchart.mq5 (12.09 KB)view

This indicator differs from the standard Kagi chart as it is drawn on a considering timeframe, so the process of forming of "yang" and "yin" lines is exactly traced. In fact, no Moving Averages or periods, and only price movement on a certain distance and breakthrough of the previous local minimums/maximums are used in drawing the Kagi charts. Suggested that the Kagi is not "one more kind of chart", but represents a good alternative to different trend indicators.

Comparison of the KagiOnChart indicator (in the main window) with a standard chart-indicator Kagi (in the subwindow). The analogical area of the indicators is marked in the figure, but in the first case consider time of lines formation, in the second case don't consider it.

KagiOnChart vs Kagi

Recommendations:

  • The very simple principle is to buy when "yang" (blue line), to sell when "yin" (red line).
  • After reversal wait for the confirmation in the form of a second vertical line of the same color in direction to a new trend.
  • A more detailed description of the Kagi charts and their use can be find in the book by Steve Nison "Beyond Candlesticks".

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1319

Accelerator Oscillator (AC) Accelerator Oscillator (AC)

The Acceleration/Deceleration Indicator (AC) measures acceleration and deceleration of the current driving force.

Average Directional Movement Index (ADX) Average Directional Movement Index (ADX)

The Average Directional Movement Index Indicator (ADX) helps to determine if there is a price trend.

Holt's double exponential smoothing trend Holt's double exponential smoothing trend

Holt's double exponential smoothing - the trend component (mt4 version).

Holt's double exponential smoothing (mt4 version) Holt's double exponential smoothing (mt4 version)

Holt's double exponential smoothing with linear forecasting.