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

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

votes: 13
2018.04.16 14:04
Sadukey.mq5 (28.26 KB)view

"Sadukey" indicator is an indicator combining two digital filters on a chart to give us an assessment of current trend.

Unfortunately the exact nature of the digital filter is unknown. It is more than probable that the filters were generated by the digital filter generator that was available for MetaTrader 4 and that those filters were then used in this indicator. In any case, even though there are no parameters at all that can be used to adjust the indicator work, it seems as a useful indicator and on a first glance, a reliable too for trend traders.

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Smoother momentum is one of the possible ways to solve the main issue of the Momentum indicator - the values it displays are far from being smooth, and that can cause a lot of false signals in a lot of cases - regardless of the calculation period that is used.

Nonlinear regression Nonlinear regression

This indicator is a MetaTrader 5 version of nonlinear regression. Nonlinear regression is very "fast" when responding to sudden market changes so the default calculation period is set to somewhat longer period than it is usual for similar type indicator. Because of that some experimenting with period is advised based on your trading strategy and trading style.

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In the Smoother Momentum Stops indicator the stops are calculated using the smoother momentum and the direction of the stops is determined based on the smoother momentum.

Price Channel Stop Price Channel Stop

The Price Channel Stop indicator shows the current estimated trend based on channel period and desired risk. It also shows two levels of values that can be used as a stop loss for orders opened based on this indicator (using the trend color change can be used as a signal for a new order opening as well as closing already opened orders).