Discussing the article: "Building A Candlestick Trend Constraint Model (Part 4): Customizing Display Style For Each Trend Wave"
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In the articles:The MQL5 is designed in that it is strong in the algorithm of data analysis and also powerful in drawing various indicator styles on Meta Trader 5.
Check out the new article: Building A Candlestick Trend Constraint Model (Part 4): Customizing Display Style For Each Trend Wave.
Author: Clemence Benjamin
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Check out the new article: Building A Candlestick Trend Constraint Model (Part 4): Customizing Display Style For Each Trend Wave.
In this article, we will explore the capabilities of the powerful MQL5 language in drawing various indicator styles on Meta Trader 5. We will also look at scripts and how they can be used in our model.
In the previous articles of this series(Part1, Part2, and Part3) the goal was to confine every signal to the sentiment of the D1 candle. The concept being that if the D1 candle is bullish, typically the day's overall trend will uptrend in lower timeframes. By employing advanced analytical methods at lower timeframes, we can identify entry points and generate signals that align with the current trend. With each phase, we have enhanced our source code, incorporating new features and enhancing our model. In the article series, we utilized arrows as a design element for each iteration of our indicator, exploring the utilization of the Wingdings font for optional display elements.
We added 200 and 100 moving averages to an asset on the MQL5 chart to strategize. By analyzing the behavior of these built-in indicators, we identified a significant periodic crossover event. Subsequently, a personalized crossover indicator with an alert system was created to notify us of such occurrences, indicating a possible trend reversal. Adjusting the MA values to higher levels can help filter out signals during market fluctuations. In Part3, I further refined the approach by introducing customizable MA period input to explore various period values and determine the optimal setup for trend reversals.
Author: Clemence Benjamin