4MA Candles Indicator For MT5
The 4MA Candles Indicator For MT5 analyzes the open, high, closing and low of the candles to create a new set of Japanese candlestick. When the price trending higher, the color of the candlestick is brown. On the contrary, when the price is trending lower, the color of the candlestick is colored in green. Based on the color code of the candles, the traders can easily find the direction of the major trend. To execute the trades, the traders need to rely on the bigger picture of the market. If you use the reading of this indicator in the lower time frame, chances are very high that you won’t be able to make a decent profit from this market. In order to improve your trade execution process, you must learn to analyze the candlestick patterns when the price hits the critical support and resistance level. Based on the critical levels, the traders need to focus on the long term price movement so that they don’t have to deal with the false spikes.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
Installing the 4MA Candles Indicator For MT5
After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file 4_ma_candles.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.
Parameters of the 4MA Candles Indicator For MT5
The 4MA Candles Indicator For MT5 has 2 parameters to configure.
input int AvgPeriod = 25; // Averages period
input enMaTypes AvgType = avgEma; // Averages method
Buffers of the 4MA Candles Indicator For MT5
The 4MA Candles Indicator For MT5 provides 5 buffers.
SetIndexBuffer(0,cano ,INDICATOR_DATA);
SetIndexBuffer(1,canh ,INDICATOR_DATA);
SetIndexBuffer(2,canl ,INDICATOR_DATA);
SetIndexBuffer(3,canc ,INDICATOR_DATA);
SetIndexBuffer(4,colors,INDICATOR_COLOR_INDEX);
Main Parts Of The Code
int OnCalculate(const int rates_total,
const int prev_calculated,
const datetime& time[],
const double& open[],
const double& high[],
const double& low[],
const double& close[],
const long& tick_volume[],
const long& volume[],
const int& spread[])
{
int bars = Bars(_Symbol,_Period); if (bars lt rates_total) return(-1);
for (int i=(int)MathMax(prev_calculated-1,0); i lt rates_total && !IsStopped(); i++)
{
double mao = iCustomMa(AvgType,open[i] ,AvgPeriod,i,rates_total,0);
double mac = iCustomMa(AvgType,close[i],AvgPeriod,i,rates_total,1);
double mah = iCustomMa(AvgType,high[i] ,AvgPeriod,i,rates_total,2);
double mal = iCustomMa(AvgType,low[i] ,AvgPeriod,i,rates_total,3);
canh[i] = MathMax(MathMax(MathMax(mao,mac),mal),mah);
canl[i] = MathMin(MathMin(MathMin(mao,mac),mal),mah);
cano[i] = mao;
canc[i] = mac;
colors[i] = mao gt mac ? 2 : mao lt mac ? 1 : 0;
}
return(rates_total);
}
//------------------------------------------------------------------
//
//------------------------------------------------------------------
//
//
//
//
//
#define _maInstances 4
#define _maWorkBufferx1 1*_maInstances
#define _maWorkBufferx2 2*_maInstances
double iCustomMa(int mode, double price, double length, int r, int bars, int instanceNo=0)
{
switch (mode)
{
case avgSma : return(iSma(price,(int)length,r,bars,instanceNo));
case avgEma : return(iEma(price,length,r,bars,instanceNo));
case avgSmma : return(iSmma(price,(int)length,r,bars,instanceNo));
case avgLwma : return(iLwma(price,(int)length,r,bars,instanceNo));
default : return(price);
}
}
//
//
//
//
//
double workSma[][_maWorkBufferx2];
double iSma(double price, int period, int r, int _bars, int instanceNo=0)
{
if (period lt =1) return(price);
if (ArrayRange(workSma,0)!= _bars) ArrayResize(workSma,_bars); instanceNo *= 2; int k;
//
//
//
//
//
workSma[r][instanceNo+0] = price;
workSma[r][instanceNo+1] = price; for(k=1; k lt period && (r-k) gt =0; k++) workSma[r][instanceNo+1] += workSma[r-k][instanceNo+0];
workSma[r][instanceNo+1] /= 1.0*k;
return(workSma[r][instanceNo+1]);
}
//
//
//
//
//
double workEma[][_maWorkBufferx1];
double iEma(double price, double period, int r, int _bars, int instanceNo=0)
{
if (period lt =1) return(price);
if (ArrayRange(workEma,0)!= _bars) ArrayResize(workEma,_bars);
//
//
//
//
//
workEma[r][instanceNo] = price;
double alpha = 2.0 / (1.0+period);
if (r gt 0)
workEma[r][instanceNo] = workEma[r-1][instanceNo]+alpha*(price-workEma[r-1][instanceNo]);
return(workEma[r][instanceNo]);
}
//
//
//
//
//
double workSmma[][_maWorkBufferx1];
double iSmma(double price, double period, int r, int _bars, int instanceNo=0)
{
if (period lt =1) return(price);
if (ArrayRange(workSmma,0)!= _bars) ArrayResize(workSmma,_bars);
//
//
//
//
//
if (r lt period)
workSmma[r][instanceNo] = price;
else workSmma[r][instanceNo] = workSmma[r-1][instanceNo]+(price-workSmma[r-1][instanceNo])/period;
return(workSmma[r][instanceNo]);
}
//
//
//
//
//
double workLwma[][_maWorkBufferx1];
double iLwma(double price, double period, int r, int _bars, int instanceNo=0)
{
if (period lt =1) return(price);
if (ArrayRange(workLwma,0)!= _bars) ArrayResize(workLwma,_bars);
//
//
//
//
//
workLwma[r][instanceNo] = price;
double sumw = period;
double sum = period*price;
for(int k=1; k lt period && (r-k) gt =0; k++)
{
double weight = period-k;
sumw += weight;
sum += weight*workLwma[r-k][instanceNo];
}
return(sum/sumw);
}
