XMA_BB_Pivot – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Two colored filled rectangles drawn between the values ​​of two Bollinger channels on one bar.

    Indicator input parameters:

    //|  Indicator input parameters                    |
    input string Symbols_Sirname="XMA_BB_Pivot_";  // Name for the indicator labels
    input Smooth_Method XMA_Method=MODE_SMA_;      // Method of averaging
    input uint XLength=100;                        // Depth of averaging                    
    input int XPhase=15;                           // First averaging parameter,
    3//---- for JJMA within the range of -100 ... +100, it influences the quality of the transition process;
    //---- for VIDIA it is a CMO period, for AMA it is a slow average period
    input double BandsDeviation1=2.0;              // Deviation 1
    input double BandsDeviation2=4.0;              // Deviation 2
    input Applied_price_ IPC=PRICE_CLOSE_;         // Price constant
    input color Up_Color=clrAquamarine;            // The color of the upper band
    input color Dn_Color=clrPlum;                  // The color of the lower band
    input uint SignalBar=0;                        // Bar index to get the indicator values
    input uint SignalLen=40;                       // The length of the indicator bands

    The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article Averaging Price Series for Intermediate Calculations Without Using Additional Buffers.

    Fig1. The XMA Bollinger Bands Pivot indicator

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    Fig1. The XMA Bollinger Bands Pivot indicator

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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