Make Your Own Index
- Indicators
- Biswarup Banerjee
- Version: 7.0
- Updated: 25 August 2025
- Activations: 20
Enhance your trading versatility with the Make Your Own Index MT5 indicator, a customizable tool that lets you build personalized indices from up to 15 symbols, blending them into a single line with equal or weighted allocations for tracking sector performance, diversified portfolios, or strategy-specific baskets. Inspired by established indices like the S&P 500 (market-cap weighted since 1957) or equal-weighted alternatives popularized in the 2000s for balanced exposure, this indicator is favored by forex, crypto, and stock traders for creating tailored benchmarks. It excels in identifying trend crossovers via dual moving averages (default EMA 20/50), aiding in spotting bull/bear shifts, reducing bias from dominant assets, and enabling precise signals for entries/exits—improving risk diversification, strategy alignment, and profitability in volatile markets from intraday to long-term holding.
The Make Your Own Index MT5 plots a white line for the weighted index value, red for the faster MA (period 20), and green for the slower MA (period 50), visualizing crossovers for trend confirmation. Users select symbols (e.g., EURUSD, BTCUSD, XAUUSD) and assign weights (default 7% each for equal distribution), calculating a real-time composite price that's smoothed with EMAs for crossover alerts. Fully customizable via inputs for symbols, weights (totaling 100% for normalization), and MA periods/methods (default EMA), it's non-repainting, efficient, and buffer-exposed (3 buffers: index price, MA1, MA2) for EA integration. Key benefits include creating thematic indices (e.g., tech stocks or major pairs), avoiding over-reliance on heavyweights, and using MA crossovers for automated signals—lightweight for multi-chart use, supporting forex majors/minors, cryptocurrencies, commodities, and stocks.
Also available for MT4: Make Your Own Index MT4
Installation Guide for MQL Products | Updating Purchased MQL Products on MT4/MT5
Key Features
- Custom Index Creation: Build your own index from up to 15 symbols (e.g., EURAUD, BTCUSD) merged into a single white line reflecting collective performance for personalized tracking.
- Flexible Weighting Options: Assign equal weights (default 7% per symbol) or custom percentages (total 100%) to emphasize favored assets, avoiding biases in traditional indices.
- Moving Average Crossovers: Dual EMAs (default periods 20 red / 50 green) on the index line for trend signals—uptrends on golden crosses, downtrends on death crosses.
- Symbol Versatility: Supports forex pairs, cryptocurrencies, stocks, commodities, and more—ideal for thematic baskets like "major currencies" or "tech equities."
- Real-Time Composite Calculation: Weighted average of closing prices (OHLC adaptable) ensures accurate, dynamic index value without lag for live decision-making.
- EA and Automation Ready: 3 buffers (index price, MA1, MA2) expose data for seamless integration into expert advisors or scripts for crossover-based bots.
- User-Friendly Customization: Inputs for symbols, weights, MA periods/methods (SMA/EMA/LWMA/SMMA) make it simple to tailor for any strategy or market condition.
- High Efficiency Design: Lightweight, non-repainting code optimized for MT5, perfect for multi-symbol monitoring without resource drain.
- Trend Signal Visualization: Clear line colors and crossovers highlight buy/sell opportunities, reducing manual analysis in fast markets.
- Broad Strategy Application: Enhances diversification, portfolio monitoring, and signal generation for scalping, swing, or long-term trades across global assets.
The Make Your Own Index MT5 indicator empowers traders to craft bespoke benchmarks, blending assets with precision weighting and MA insights for superior market navigation. Its popularity stems from enabling balanced exposure, crossover alerts for timely trades, and EA compatibility, delivering a strategic edge in customizing indices for diverse, evolving markets.
I would greatly appreciate a positive review if you are happy with your purchase. Please contact me to find a solution if you are not. You can also request a 7-day trial.
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#tags make your own index mt5 custom weighted basket moving average crossover trend signals portfolio tracker forex crypto stocks commodities ea integration
