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MW Direction by Candle Body Analysis

The Martinware™ Direction by Candle Body Analysis indicator is a trend indicator that shows the current asset direction, up or down, by checking if previous candle bodies' bases were respected or broken. It works similarly to a moving average, but it's more objective due to its lesser amount of configuration parameters.

The algorithm assumes the theory that although the highs and lows of candles have their value, it is the body that shows the conclusive market sentiment over that asset in the given period. Such sentiment includes not only the information of direction but also its strength. Thus, a breaking of a previous candle body indicates the market has decisively rejected the previous movement and is now going after creating a new one in the opposite direction.

This algorithm makes the DCBA indicator to behave similarly to a moving average: it indicates the start and direction of a new trend with a lagging factor that will inevitably result in some delayed entry and exit signals. Its advantage resides in being more objective, less subject to overoptimization and curve-fitting, and grounded on a sound reading of the market instead of a generic mathematical formula. The only input parameter required serves to filter excessively small candle bodies, a situation when two candles are considered instead of just one. 

As with moving averages, it's recommended not to use this indicator alone, but combined with some filtering system.

Input parameters:

Candle body factor: the percentage size of the body relative to its entirety used to determine if the body is small
Correct for high volatility: the maximum number of candles a candle body will be considered. 0 means a body will be considered until broken
Alert in advance: check for signal n seconds before candle close
Alert with sound: informs if the alert should include playing a sound
Custom buy sound: name of the custom buy sound file to be used instead of the default. It must be inside a folder named "Sounds", this one inside the "Files" folder in the Terminal's MQL5 directory tree.
Custom sell sound: name of the custom sell sound file to be used instead of the default
Alert with e-mail: enable sending an e-mail when a new signal is produced
Alert with Alert message: informs if the alert should include showing an Alert message
Alert with background color change: informs if the alert should include temporarily changing the chart's background-color
Alarm color: the color to be used
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5 (1)
The Martinware Manual Trading Helper indicator is aimed at helping people start their lives in manual trading. It can be used to display both some generic images at the right side of the graph, where custom operational remarks may be displayed or just a blank rectangle hiding the chart while backtesting. Moreover, it can periodically play a list of sounds. To show a blank rectangle, let the first image name input field empty and select the desired color. To show one or more custom images inste
The Martinware Eye Rest Reminder serves to periodically remind traders to rest their eyes without the need for a tool outside MT5. Input parameters: Periodicity: play the alert every n minutes Alert with sound: define if the alert should include playing a sound Custom sound file: name of the custom sound file to be used instead of the default. It must be inside a folder named "Sounds", this one inside the "Files" folder in the Terminal's MQL5 directory tree. Alert with Alert message: informs
The Martinware Market Sides' Strength indicator shows the candlestick chart in a different manner allowing for a clearer view of which side, bullish or bearish is dominating the asset in the current period. As a bonus, it can also show an internal area that can be used to visualize two levels of Fibonacci retracements inside the bars. The default configuration shows the MSS bars with 4 main colors, two representing the bullish force, and two representing the bearish one. The primary colors a
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Sürüm 1.6 2021.09.24
Major update. Bug corrected, improved alert system, added an algorithm to better handle volatile candles
Sürüm 1.5 2020.09.22
Warning with "Alert" message and support for custom warning sound files
Sürüm 1.4 2020.09.14
Adding support for warning by email
Sürüm 1.3 2020.08.13
Minor code improvements
Sürüm 1.2 2020.07.06
Adding sound alarm for manual traders
Sürüm 1.1 2020.07.03
Bug fix