Consensus_of_Five - indicator for MetaTrader 5

Consensus of Five signal indicator. The indicator is based on the readings of five indicators: ADX, DMI, CCI, MACD and Stochastic.

DMI, CCI, MACD and Stochastic indicator directions (or only of some of them) should match for generating a direction signal, while the value of ADX indicator is used as a trend filter (either a trend is present or not) and affects simultaneously all four indicators DMI, CCI, MACD and Stochastic (or only some of them). If indicators display direction, while ADX is located in a non-trend area, direction signals are not generated.

The indicator has twenty-one input parameters:

• Use ADX as trend filter - use ADX as a trend filter (Yes/No)
• Use DMI - use DMI (Yes/No)
• Use CCI - use CCI (Yes/No)
• Use MACD - use MACD (Yes/No)
• Use Stochastic - use Stochastic (Yes/No)
• ADX period - ADX calculation period
• ADX entry level - ADX position entry level
• ADX exit level - ADX position exit level
• DMI period - DMI calculation period
• CCI period - CCI calculation period
• CCI Buy level - CCI Buy position entry level
• CCI Sell level - CCI Sell position entry level
• MACD fast EMA period - fast EMA MACD calculation period
  
• MACD slow EMA period - slow EMA MACD calculation period
  
• MACD Buy level - MACD Buy position entry level
• MACD Sell level - MACD Sell position entry level
• Stochastic %K period - K Stochastic line calculation period
• Stochastic %D period - D Stochastic line calculation period
• Stochastic slowing - Stochastic slowing period
• Stochastic overbought - Stochastic overbought level
• Stochastic oversold - Stochastic oversold level