MetaTrader 5 Android Help

MetaTrader 5 Android HelpChartsIndicators

Indicators for Technical Analysis

A technical indicator is a mathematical transformation of a security price and/or volumes aimed at forecasting future price changes. Decisions about how and when to open or close positions can be made on the basis of signals produced by technical indicators. Indicators can be divided into two groups based on their functional properties: trend indicators and oscillators. Trend indicators help to assess the price direction and detect the reversal moments synchronously or with a delay. Oscillators help to find reversal points in advance or synchronously.

Managing Indicators

MetaTrader 5 for Android provides 30 indicators. They are divided into the following groups:

A technical indicator can be drawn in a separate indicator window with its own vertical scale (for example, MACD) or applied directly to a price chart (like Moving Average). Each indicator has a specific set of parameters.

List of Indicators

Managing Indicators

To go to the indicators management page, tapIndicators in the chart view.

Adding Indicators #

To add an indicator, tap Add an indicator next to the required chart window.

If the indicators are applied only on the main chart or not applied at all, the window provides options for adding/removing indicators only for the main chart. If an indicator is drawn in a separate window (for example, MACD), the window is created automatically. After an additional window has been created, you can add indicators right to it.

A tap on Add an indicator opens a window from where you can select an indicator.

Select one of the indicators listed here. A detailed description of all available indicators is provided in sections "Trend Indicators", "Oscillators", "Volume Indicators" and "Bill Williams' Indicators".

After you select an indicator, its properties window opens.

Settings of Indicators #

Each indicator has a specific set of parameters.

One of the common parameters is "Apply to". Indicators can be plotted based on price data and derivatives thereof (Median Price, Typical Price, Weighted Close), as well as on the basis of other indicators. For example, a Moving Average can be constructed based on MACD values. To do this, first plot the MACD indicator, and then in its window add MA, selecting in the "Apply to" field of its settings the "Previous indicator's data" option. If you select "First indicator's data", MA will be constructed on the basis of the very first indicator, which is not necessarily the MACD. Nine variants of indicator construction are available:

  • Close – based on close prices.
  • Open – based on open prices.
  • High – based on High prices.
  • Low – based on Low prices.

Indicator Settings

  • Median Price (HL/2) – based on the median price: (High + Low)/2.
  • Typical Price (HLC/3) – based on the typical price: (High + Low + Close)/3.
  • Weighted Close (HLCC/4) – based on the average weighted close price: (High + Low + 2*Close)/4.
  • First indicator's data – based on the values of the first applied indicator. The option of using the data of the first indicator is only available for indicators in a separate window, because in the main chart window the first indicator is the price.
  • Previous indicator's data – based on the values of the previous indicator.

In addition to this parameter, you can set the Period, Method, Shift and many other parameters of indicators.

Removing an indicator

Removing Indicators #

To delete indicators, tap Delete at the top of the window. Then tick off all the indicators that you want to delete, and once again tap Delete.

Modifying Indicators

To change the parameters of an indicator, tap on it in the "Indicators" window.