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Custom Indicators
Custom indicator is a technical indicator developed by a user in MQL5. Development of custom indicators allows to extend the analytical possibilities of the terminal. Based on their algorithms trading tactics are constructed and Expert Advisors are developed.
Custom indicators are used for the analysis of symbol price dynamics only. Indicators cannot trade and do not have access to charts.
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Working with custom indicators means:
- Creation of an Indicator
For the creation and compilation of a custom indicator the integrated development environment MetaEditor is used. It is a component part of the client terminal and represents a convenient tool for writing and debugging MQL5 programs.
- Indicator Setup and Applying
Prior to using custom indicators, one should preset them first. Operation parameters common for all indicators are set up in the client terminal settings window. Besides, each indicator has its own parameters that are opened at the attempt to impose them.
- Deletion of an Indicator
If an indicator is not needed anymore, it can be removed from the chart.
You can download and share ready custom indicators in the special CodeBase section of the MQL5.Community official website.
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MetaTrader 5 — a complex trading platform for providing brokerage services on the retail Forex market.
Copyright 2000-2012, MetaQuotes Software Corp.