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MQL5 Source Codes of Technical Indicators for MetaTrader 5 - 51
MQL5 technical indicators analyze MetaTrader 5 price charts on Forex, as well as stock and commodity markets. Indicators define trend direction and power, overbought and oversold states, support and resistance levels. Underlying mathematical models provide objective assessment of the current market state allowing traders to accept or reject trading system's signals.
You can download and launch offered indicators in MetaTrader 5. The library of indicators is also available directly from MetaTrader 5 platform and MetaEditor development environment.
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This is the version that David Rooke proposes as a solution to Bollinger Bands issues in a percent representation.
This is the version that David Rooke proposes as a solution to Bollinger Bands issues.
Linear regression line with an addition of standard error channel projection.
This version of WSO (Widner Support Oscillator) and WRO (Widner Resistance Oscillator) shows channel on chart instead of displaying oscillator values in a separate window.
The Hurst exponent is referred to as the "index of dependence" or "index of long-range dependence". It quantifies the relative tendency of a time series either to regress strongly to the mean or to cluster in a direction.
Fractal Dimension from Mark Jurik is much smoother than the others but the general rule is the same: it is not a directional indicator, but is attempting to determine if there is a trend in the current market price changes or not, and it should be used bearing that in mind.
Mandelbrot describes the Fractal Dimension Index (FDI) as a way to measure "how convoluted and irregular" something is. The FDI can be used as a stock market indicator. The closer prices move in a one-dimensional straight line, the closer the FDI moves to 1.0. The more closely prices resemble a two-dimensional plane, the closer the FDI moves to 2.0.
By it's nature, fractal dimension index indicator is not directional. Instead it is showing if there is a trend or not. If the value of the FDI is less than the target threshold, then there is no trend (the market is ranging). If the value is above that threshold then the market is trending.
BB MACD is a MACD (Moving Average Convergence Divergence) indicator variation with an addition of Bollinger Bands, which helps in detecting trend change points and measuring current trend's strength.
Instead of using the "regular" Heiken Ashi for oscillator calculations, this version is using the smoothed Heiken Ashi. That makes the number of false signals fall dramatically, and, when pre-smoothing is applied to Heiken Ashi, the lag is in acceptable bounds.
Instead of using "pure price" this indicator uses Heiken Ashi values to determine the trend as well as the "strength" of the trend.
This is not a directional indicator. This means that even it is stochastic it does not show the direction of the market, but shows the direction-amount-size of volatility. The assumption that seems sound enough and after which this indicator is made is that in the times of extremely low volatility it is a good time to enter the market, since the change in volatility is imminent. Those times are marked by dark gray dots on this indicator. For direction of entry, you should use some other trend showing indicator(s).
A colored histogram of the days of the week. Uses the drawing style DRAW_COLOR_HISTOGRAM.
The indicator adds signal marks to a price chart when the CCI indicator crosses its zero line.
SZO (Sentiment Zone Oscillator) is an indicator of market sentiment, which has overbought and oversold zones.