- Upward edge continues on new bars while their `highs` are above highest `low` among previous bars, downward edge continues on next bars while their `lows` are below lowest `high` among previous;
- Gann swing: upward edge continues while `highs` and `lows` are higher than on the left adjacent bar, downward edge continues while `highs` and `lows` are lower than on the left adjacent bar. Inside bars (with lower `high` and higher `low`) and outside bars (with higher `highs` and lower `low`) do not affect edge direction;
- Weis wave: upward edge continues while `close` prices increase, downward edge continues while `close` prices decrease;
- Retracement by price % or Self-Adjusting Level.
- Mode - one of supported methods: High below Low/Low above High, Gann swing, Close vs Close (Weis wave), Retracement;
- ProcessTicks - an option to calculate ZigZag on every tick, by default - false; with this value, the last incomplete edge is not shown until it's formed comletely and new (hidden yet) edge is started; if the option is set to true, the last incomplete edge is shown on the chart and my be redrawn according to ongoing price action;
- RetracementPercent - size of price retracement (%), which changes zigzag direction (used in Retracement or Close vs Close modes only); 0 by default means special auto-adaptive retracement algorithm (see below);
NOTE. As with any other ZigZag implementation, the indicator may redraw the last edge if it's not yet completed (and tick processing is enabled). This is by design. All previous edges and up/down marks are stable.
WARNING. While using the 1-st mode, the extremums may not always hit visually most prominent candles. This happens if a higher high or a lower low occurs on a bar where new edge is already forming in opposite direction. For example, if a down arrow mark is shown on the bar A, that means that downward edge is forming on the next bars to the right of A, and hence only lows are processed there for searching extremums. High extremum should remain standing to the left of A only. As a result, if a higher high is located between the bar A and next low extremum, the high can not be marked as high extremum (because it's a section of downward edge). This behaviour is intentional and ensures stability of already formed edges. This is according to the 1-st algorithm. Please, find an explanation on one of the screenshots below.
Auto-adaptive retracement level is calculated by the formula:
where N is a number of bars between the last extreme and current bar. On the current bar N = 0, hence the retracement size is equal to 1, that is the total size of the last edge. On single bar distance the size is about 0.71, on 3 bars - 0.5, on 8 bars - 1/3 of the last edge price change.
This indicator uses support and resistance, volume and some special formula to calculate the volume to filter the candles. If the volume reaches a specific value, And at the same time, Candle breaks the support/resistance line, There would be a signal and we can enter the market. Signals appear when the current candle closes. then you can enter the trade when a new candle appears. Please don't forget to follow your money management plan. Demo version just work on GBPNZD MetaTrader 5 Full Vers
This indicator displays Pivot-Lines, preday high and low, preday close and the minimum and maximum of the previous hour. You just have to put this single indicator to the chart to have all these important lines, no need to setup many single indicators. Why certain lines are important Preday high and low : These are watched by traders who trade in a daily chart. Very often, if price climbs over or falls under a preday low/high there is an acceleration in buying/selling. It is a breakout out of
Support & Resistance indicator is a modification of the standard Bill Williams' Fractals indicator. The indicator works on any timeframes. It displays support and resistance levels on the chart and allows setting stop loss and take profit levels (you can check the exact value by putting the mouse cursor over the level). Blue dashed lines are support level. Red dashed lines are resistance levels. If you want, you can change the style and color of these lines. If the price approaches a support lev
Follow The Line This indicator obeys the popular maxim that: "THE TREND IS YOUR FRIEND" It paints a GREEN line for BUY and also paints a RED line for SELL. (you can change the colors). It gives alarms and alerts of all kinds. IT DOES NOT REPAINT and can be used for all currency pairs and timeframes. Yes, as easy and simple as that. Even a newbie can use it to make great and reliable trades. NB: For best results, get my other premium indicators for more powerful and reliable signals. Get them
The SupportResistance indicator shows the support and resistance levels. This indicator is necessary for any trader regardless of the strategy used. Advantages of this indicator The indicator is displayed on the price chart. Depending on the trading direction, the indicator shows the position entry/exit points. The indicator works on any timeframe from M1 to MN. The indicator works with any symbol. Options of the indicator application Trade the price rebounds from the support or resistance l
Blahtech Candle Timer displays the remaining time before the current bar closes and a new bar forms. It can be used for time management Feature Highlights Multiple Colour Schemes Configurable Text Selectable Location Customisable alerts and messages Optimised to reduce CPU usage Input Parameters Text Location Beside Active Candle Chart Upper Left Chart Upper Right Chart Lower Left Chart Lower Right Text Colour Scheme Manual Colour Scheme. (Use next two parameters below to set the colours)
Indicator shows Support and Resistance Levels. In stock market technical analysis, support and resistance are certain predetermined levels of the price of a security at which it is thought that the price will tend to stop and reverse. These levels are denoted by multiple touches of price without a breakthrough of the level . Support and resistance are key concepts that help traders understand, analyze and act on chart patterns in the financial markets.
The indicator draws trendlines on chart. This indicator has six inputs. User can specify alternative labels for both lines. If multiple instances of the indicator are used, the labels must differ. User can set width and color of the lines and depth which specifies what significant peaks should be used. For example, Depth=10 sets trendlines using the current peaks and valleys that have at least 10 bars to the right and to the left and that have highs/lows less/greater than the peak's high/low. In
The OandaX product series is designed to display additional data on orders and positions provided by the Oanda FxLabs service. The OandaX Ratios indicator is designed to display the history data on buyers and sellers ratio. For the constant update of data it is necessary for the OandaX Download Manager EA to be running in the terminal. To display the previously downloaded data the EA is not required. The ratio of sellers and buyers is the percentage of the number of traders who have short net po
Free automatic fibonacci is an indicator that automatically plots a fibonacci retracement based on the number of bars you select on the BarsToScan setting in the indicator. The fibonacci is automatically updated in real time as new highest and lowest values appears amongst the selected bars. You can select which level values to be displayed in the indicator settings. You can also select the color of the levels thus enabling the trader to be able to attach the indicator several times with differe
Swiss VWAPsimple Motivation Did not find free VWAP that works, the one that I found craseh. So I created a VWAP which calculates values only for the actual day. So computer resouces are not over stressed. What is VWAP, how is it used? VWAP stands for Volume Weighed Average Price, it calculates the running sum of tick volume and the runnung sum of price times tickvolume. The division of these sums result in a weighed price (Sum P*V/Sum V). The calculation starts normally at midnight. The value
This indicator finds DeMark pivot points (TD Points), displays them on the chart in real time and indicates their dimensions. The values of the upper pivot points are displayed above the High,for lower pivot points - below the Low. If the indicator cannot calculate the dimension of a certain point on the selected chart interval, it marks such point with a colored circle. If the dimension of a point is defined upon the emergence of new bars, the point will be redrawn in accordance with its dimens
The Penta-O is a 6-point retracement harmonacci pattern which usually precedes big market movements. Penta-O patterns can expand and repaint quite a bit. To make things easier this indicator implements a twist: it waits for a donchian breakout in the right direction before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal. The donchian breakout period is entered as an input. [ Installation Guide | Update Guide | Troubleshooting | FAQ | A
The MACD indicator in MetaTrader 4/5 looks different than the MACD indicator in most other charting software. That's because the MetaTrader 4/5 version of MACD displays the MACD line as a histogram when it is traditionally displayed as a line. Additionally, the MetaTrader 4/5 version computes the Signal line using an SMA whereas according to MACD definition it's supposed to be an EMA. The MetaTrader 4/5 version also does not compute a true MACD Histogram (the difference between the MACD/Signal l
The WaltSoft RNB (Round Numbers Background) Indicator adds scale and perspective to your charts. This indicator is free. If you want Alerts and Notifications when price reaches a Big Round Number then you need the Plus version of this indicator. Problem On a naked chart you have no clue of how much price has moved. Solution Put the WaltSoft RNB on your chart and it draws an alternating color background (grid) with a scale you can choose. Not only that, but it can also draw horizontal line
The Pivot Points Reversal Price Action pattern consists of three bars. It appears, as a rule, after a fast trend. In the bearish pattern , the price goes up and reaches a new maximum. The next bar whose high is lower than that of the previous bar closes below its minimum. In the bullish pattern , the price goes down and reaches a new minimum. The minimum of the next bar does not exceed the minimum of the previous bar and closes above its maximum. This indicator finds the Pivot Points Reversal pa
この指標は、前日のピボットポイントに基づいてサポートゾーンとレジスタンスゾーンを計算します。ブラジルのインデックスWIN $に基づいて作成されました。これらは、グラフが反転、撤回、および/または破損する傾向がある領域です。 合流点として、または入力パラメーターとしても使用できます。 ゾーン： R1-抵抗1; R2-抵抗2; ピボットポイント; S1-サポート1。 S2-サポート2。 .............................................................................................................................................................
Combining the best of Price Action , Directional Movement , and Divergence/Convergence analysis, Candle Color Trend is a easy and reliable way to identify trend direction. The indicator automatically paints the candles according to the assumption that an uptrend is defined by prices that form a series of higher highs and higher lows. In contrast, a downtrend is defined by prices that form a series of lower highs and lower lows. Additionally, ADX Wilder indicator is used to measure trend weakness
This indicator can send alerts when a Heiken Ashi Smoothed color change occurs. Features Can send all types of alerts. Option to delay the alert one or more bars in order to confirm the color (trend) change. Parameters Candle shift for alert: Default is 1. Setting it to 0 will alert you on color change on the current candle. This should be regarded as a pending (unconfirmed) signal. MA method: Default is Smoothed (SMMA). MA period: Default is 4. MA 2 method : Default is Linear Weighted (LWMA
Technical indicator Relative Strength Index (RSI) is a price following oscillator, whose values vary between 0 and 100. Values below 30 indicate an oversold state, and values above 70 indicate an overbought state. The classic interpretation of it is the following: if the oscillator line goes out of the oversold zone, it is a signal for opening a long position. If it goes out of the overbought zone, it is a signal for opening a short position. The indicator displays entry points on the chart usin
Smart Robot MT5 is an Expert Advisor based on Scalping, Elliot Waves and with filters such as RSI, Stochastic that managed and decided with robot smartly. Large number of inputs and settings are tested and optimized and embedded in the program thus inputs are limited and very simple. Using EA don't need any professional information or Forex Trading Knowledge. The EA works with low margin level and thus has low risk. This is Free Version and limitations is : Trade on EURJPY only with lot size
This indicator allows to display Renko charts in the indicator window. Renko charts show only price movements that are bigger than the specified box size. It helps to eliminate noise and allows to focus on main trends. Time is not a factor here. Only price movements are taken into account. That's why Renko chart is not synchronized with the main chart it is attached to. Indicator works in two modes: CLOSE - only close prices are taken into account while building the chart HIGH_LOW - only high/
This indicator shows the latest untouched support and resistance as horizontal lines. The indicator can show support/resistance from higher timeframes. With this indicator you can e.g. easily see the support/resistance of the timeframes H4, D1 and W1 on a H1 chart, which can be a big advantage while time your entry on H1. This is the FREE version of the indicator: Support Resistance Multi Time Frame MT5 The free version works only on EURUSD and GBPUSD! Parameters referenceTF: the timeframe fro
This is the 60-seconds free demo version of Easy Chart Shifter. You can find the full version on: https://www.mql5.com/en/market/product/49695 Easy Chart Shifter (60-sec demo version) This indicator is made to make the moving the chart easier. By it, you can simply drag the chart in all 4 directions using the mouse. If you monitor is touch screen, you can use pen or finger also. You can shift the chart in both vertical and horizontal directions, using the mouse/pen/finger (for touch monito
Market Profile is an amazing tool! It is also known as Volume Profile. With it you can identify regions of strong and weak negotiation, finding regions of accumulation (support and resistance), thus seeing the market with other eyes. Instead of measuring each candle volume as default volume indicator does, the Market Profile measure the volume by price . Paid version: https://www.mql5.com/pt/market/product/38938 Configurations: MAIN OPTIONS From period - period to extractvolume data. To per
The idea of the system is to indentify the reversal patterns using the calculation of the composite candle. The reversal patterns is similar to the "Hammer" and "Hanging Man" patterns in Japanese candlestick analysis. But it uses the composite candle instead the single candle and doesn't need the small body of the composite candle to confirm the reversal. Input parameters: Range - maximal number of bars, used in the calculation of the composite candle. Minimum - minimal size of the composite can
The original author is David Weis, an expert in the Wyckoff Method. The Weis Wave is a modern adaptation of the 1930's Wyckoff Method, another expert in Tape Reading techniques and Chart Analysis. Weis Waves takes market volume and stacks it into waves according to price conditions giving the trader valuable insights about the market conditions. If you want to learn more about this subject you can find tons of videos in YouTube. Just look for "The Wickoff Method", "Weis Wave" and "Volume Spread
The indicator identifies Price Action pin bars on a chart and highlights them. Also it sets a signal pointer at the opening price of the candlestick following the found pin bar. It has four parameters to filter candlesticks: Minimum size of a candle from low to high - the minimum size of the candlestick in points from High to Low, below which candlesticks are skipped. This parameter is specified like for the four-digit prices. Maximum size of the candle body relative to its shadows. Set from 0 t
Market Time Pad The indicator that displays current time at the main markets of the world. It also displays the current session. Very easy to use. It doesn't occupy much space on a chart. It can be used together with Expert Advisors and other panels, such as VirtualTradePad . The classic style version. The version with digital displaying - Digit Market Time Pad You can try the same time pad for МetaТrader 4: Digits Market Time Pad . Dear friends and users of our EAs, please add your ratings in