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The ZigZagOnHeikinAshi.mq5 file is a custom MQL5 technical indicator that plots a ZigZag line directly onto the main price chart based on Heikin Ashi candle data. It provides a smoothed view of price trends by filtering out market noise using Heikin Ashi calculations. Core Functionality: The indicator operates by first calculating Heikin Ashi values and then identifying local highs and lows to draw the ZigZag. Dual Visualization: It can display both the ZigZag line and the underlying
The TRIX_4.mq5 (internally named FEMA.mq5) is a custom MQL5 technical indicator that implements a Four Exponential Moving Average (FEMA) calculation. It is designed to display in a separate window and provides a highly smoothed trend-following signal by layering multiple stages of exponential smoothing. Core Functionality: The indicator calculates four sequential layers of Exponential Moving Averages (EMAs) to derive its final values: Step 1: Calculate an initial EMA based on the
The Stochastic MACD.mq5 file is a custom MQL5 technical indicator that combines the logic of a Stochastic Oscillator with the Moving Average Convergence Divergence (MACD). It is designed to run in a separate chart window and provides a smoothed representation of price momentum relative to a specific trading range. Core Functionality: Unlike a standard MACD that uses raw price data, this indicator applies Stochastic scaling to Exponential Moving Averages (EMAs). Stochastic Normalization
The PairsTrade_Light_v2.mq5 file is a custom MQL5 technical indicator designed for pairs trading, primarily within the Forex market. It serves as a simplified version of the Ind_2_Linep1.mq5 indicator and provides a visual representation of the relationship between two financial instruments. Core Functionality The indicator plots the price movement of two selected symbols in a separate chart window to help traders identify convergence or divergence. Symbol Comparison: It takes a main symbol