Indicator Signal Trader Kb

Indicator Signal Trader Kb turns the signals of an indicator you already use into trades or alerts. You choose the indicator, tell the program which of its buffers means Buy and which means Sell, and set the stop loss, take profit and lot size. Up to four more indicators can act as filters that confirm each signal. No programming is needed.

The usual difficulty with tools of this kind is knowing which buffer is which. Indicator Signal Trader Kb shows it on the chart. After you attach it, a panel lists every buffer of the indicator and what it held over the last 300 bars: arrows (how many, and the time of the latest one), lines (with the current value) or colour indexes (with the current value, so you can match a number to the colour you see on the last bar).

How to set it up

1. Indicator. Enter the name of the indicator as it appears inside the MQL5\Indicators folder, without the file extension, for example Examples\Fractals. Purchased Market indicators are in the Market folder, for example Market\Indicator Name. Indicator inputs can be entered as a comma-separated list in the same order as in the indicator, for example 14, 2.5, true. Leave the list empty to use the indicator's own defaults.
2. Buffers. Attach the program to a chart and read the panel to find the buffer that carries the signal.
3. Rules. For Buy and for Sell choose one of the rules: an arrow appears in a buffer; a buffer crosses a level; one buffer crosses another (for example a fast line crossing a slow line); a colour buffer changes to a given value.
4. Filters (optional). Up to four more indicators can confirm a signal before it counts, for example: Buy only while RSI is above 50, or only while the close price is above a 200-period moving average on H4. Each filter has its own indicator, inputs and timeframe, and for Buy and for Sell one condition: a buffer above or below a level, above or below a second buffer, the close price above or below a buffer, a colour buffer equal to a value, or a buffer having a value on the bar. Filters are checked on the last closed bar of their own timeframe. A signal that any filter rejects is ignored completely: it neither opens nor closes a position, and no alert is sent; the panel shows which filter rejected it and what it saw.

By default the signal is taken from the last closed bar, so the Strategy Tester reproduces what happens on a live chart. You can check your own indicator with the free demo in the Strategy Tester before buying.

Example: take MACD signals only in the direction of the H4 trend

The signal indicator stays as it is: leave Indicator name empty to use the built-in MACD (12,26,9); its default rules already mean Buy when buffer 0 crosses buffer 1 upward and Sell when it crosses downward. Open the inputs (F7) and fill in the group Filter 1:

• Indicator name (empty = filter off): Examples\Custom Moving Average
• Indicator inputs, comma separated: 200,0,1 (period 200, shift 0, method 1 = exponential)
• Timeframe of the filter: H4 (4 Hours)
• Allow Buy only when: Close price is above the buffer (moving average etc.)
• Buy: buffer number: 0
• Allow Sell only when: Close price is below the buffer
• Sell: buffer number: 0

Result: a buy is opened only while the last closed H4 candle is above the 200-period exponential moving average, a sell only while it is below. A rejected signal opens and closes nothing; the panel shows it under Last signal with the filter number and the value the filter saw.

Adding a second filter: RSI must agree

Fill in the group Filter 2 in the same way. A signal now counts only when both filters agree:

• Indicator name (empty = filter off): Examples\RSI
• Indicator inputs, comma separated: 14
• Timeframe of the filter: current
• Allow Buy only when: Buffer is above the level
• Buy: buffer number: 0
• Buy: level: 50
• Allow Sell only when: Buffer is below the level
• Sell: buffer number: 0
• Sell: level: 50

Result: a buy needs the H4 close above the average and RSI above 50; a sell needs both below.

• Do not know the buffer number of a filter? Enter only the indicator name and attach the program: the panel lists the buffers of every filter with their current values. Then set the conditions.
• Filters 3 and 4 work the same way. A filter with an empty indicator name is off.
• A typo in a filter name or a buffer number the indicator does not have is shown on the panel in red under SETUP PROBLEM, with what to correct.

Trading

• Fixed lot, or a lot calculated from a percentage of the balance and the stop-loss distance.
• Stop loss: none, fixed in points, or a multiple of ATR.
• Take profit: none, fixed in points, or a multiple of the stop loss.
• On an opposite signal: ignore it, close the position, or close it and open the opposite one.
• One position at a time, or several.
• Break-even and trailing stop.
• Spread and time: maximum spread and a trading time window in server time.
• Before every order the program checks the lot limits of the symbol, the minimum stop distance, free margin, the broker's order limit and whether the trading session is open.
• Works on netting and hedging accounts; positions are identified by the magic number.
• The panel shows what happened to every signal: the position opened, the signal was blocked by a filter, or it was not traded and why (outside the trading window, spread above the maximum, a position already open, the market closed, not enough margin, the order rejected by the broker).

Alerts

The program can also work in alerts-only mode without opening trades: pop-up alert, push notification to the MetaTrader mobile app, and e-mail.

Limitations

• The indicator must provide its signals in indicator buffers. Indicators that only draw graphical objects on the chart cannot be read.
• An arrow is recognised as any value other than an empty value or zero.
• The program executes the signals of your indicator exactly as they are. It does not make an indicator profitable; test your settings in the Strategy Tester first.

Inputs

• Indicator: name, inputs, timeframe, signal bar (1 = last closed bar).
• Buy signal and Sell signal: rule, buffer number, level, second buffer.
• Filter 1 to Filter 4: indicator name (empty = off), inputs, timeframe; for Buy and for Sell: condition, buffer number, level; second buffer.
• Trading: mode (trade or alerts only), lot mode, fixed lot, risk percent, stop-loss mode and size, ATR period, take-profit mode and size, action on an opposite signal, one position at a time.
• Position management: break-even trigger and locked points, trailing distance.
• Spread and time: maximum spread, trading window start and end.
• Alerts: pop-up, push, e-mail.
• Panel: show or hide, font size.
• Identification: magic number, order comment.