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Forex Indicators

In the Forex Indicators section we present to your attention a number of indicators, which may become indispensable tools of analysis and forecasting of price fluctuations. On this page you can find a brief description of each of our indicators, the calculating formula and information on the indicator’s practical use. All of the indicators, which are available on our website, can be downloaded and installed on the MetaTrader trading platform.

Forex indicators are the main tools of analysis movement in market prices. The indicators are very important but they are not the only link of the strategy that should lead you to success in the Forex market.

The best forex indicators are effective tools used for predicting rate, they allow you to choose the right moment to open and close positions.

Forex Indicator “Average Directional Movement Index (ADX)”

This ADX forex indicator helps to define the trend of the price.

It is built on the Welles Wilder’s approach.

This Forex indicator outputs the information about the trend direction according to the indicator data on the selected bar in the form of a graphic object with the colorful trend indication or the transaction deal direction. Then it gives sound signals or delivers alerts and sends the push-messages on the smartphone if there are signals for transactions.

The indicator gives alerts and push-messages only if the value of the input variable is higher than one.

The “HighsLows_HTF_Signal” Forex indicator outputs the trend direction or a signal to conclude a deal from the “HighsLows_HTF_Signal” Forex indicator on the selected bar in the form of a drawing object with trend indication of a specific color or the direction of the deal. It beeps the alerts or audible signals under the presence of signals for transactions.

The MaByMa Forex Indicator is a colorful cloud that uses two sequential averages of the price rows. The indicator has a pretty simple idea: it is a moving average of a different moving average (MA).

E. Coppock was the one who created this indicator. 1960’s was the first time it was used. The indicator was first released in the week’s magazine “Barron’s.” It was not founded for an investment fund. The Episcopal Church requested to create it for long-dated investment.

The formula of the indicator is:

CoppockHist(t) = EMA(t,w)[ROC(l,t) + ROC(s,t)]

The EMA (t, w) is an exponential moving average

Forex Indicator “Mass Index” is used for showing the trend rotations that are based on changes in the bandwidth between the lowest and highest prices. If the bandwidth narrows then the Mass Index decreases. If it expands, then the Index increases.

The Dots indicator demonstrates the current direction in trend by putting colorful dots on the chart. Red dots show a downtrend. Blue dots show an uptrend.

The calculation of an indicator is not built on indicators of standard MetaTrader platform, but it uses the Moving Average function for getting prices of a definite type (Close, Open, Minimum, Maximum, Typical etc.). The calculation is received from a cosine of a change in price angle. There can be set a few input parameters:

On the graphic there is an indicator with an attention level. To calculate this level, take a 10-day ATR value indicator on a daily interval. If the previous day symbol was growing then subtract the ATR value from its maximum price. If it was dropping, then supplement the ATR value to its minimum price and draw a horizontal level trough one of the values.

If at the uptrend a price drops below the attention level, it is better to stop all the trading.

Tips:

This indicator works with M15 or less timeframe. It can show the activity of major stock exchanges. This chart is pretty simple. User should use OBJ Label for labels. Meanwhile, OBJ Edit is useful for rectangles. Due to the OBJ Edit, this indicator will be visible for user in the Strategy Tester. To make it visible, user should set the main terminal window to height more than 300. OBJ Edit is constructed for using classes.

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Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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