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Indicators

M1MA indicator - indicator for MetaTrader 5

Stanislav Korotky

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3335
Rating:
votes: 10
Published:
2020.06.13 18:27
M1MA.mq5 (3.13 KB)view
\MQL5\Include\

This is a simple indicator calculating most close to real average price per bar on timeframes higher than M1. It uses prices from corresponding M1 bars to get the "effective" (averaged) prices on the chart's bars. This estimation is more adequate compared to any standard price type (close, open, median, typical, weighted, etc). Yet it does not mean more smoothed values, and it's not intended for this.

The effective prices give you new insights into price action analysis and important price levels.

Parameters

  • BarLimit - number of bars to calculate, default - 100; this limit is important because a higher timeframe may require too many M1 bars to process, which in turn may take too much time for syncing; also make sure your broker provides M1 history for entire period you request; for example, on round-the-clock market a single D1 bar needs 1440 M1 bars to load;
  • BarPeriod - number of bars for smoothing on the host timeframe, default - 1, means that pure effective price per bar is shown;
  • M1Price - price type on M1 used in calculations, default - close;

Work timeframes: M5 and higher. Recommended timeframes: intraday.

M1MA effective bar prices EURUSD H1 (based on M1)



Bar Time Count Down Bar Time Count Down

This MT5 indicator is to count down the remaining time of the current bar as the format HH:MM:SS

Arrays class Arrays class

Frequent array operation methods.

Object List Object List

A basic container for storing an ordered list of objects.

Basic List Basic List

A basic container for storing an ordered list of basic data type objects.