XMA_BBxATR_Cloud – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • This is a modified Bollinger Bands® displaying the upper and lower borders of the price deviation from МА calculated considering the average volatility of the symbol according to ATR indicator. The internal MintCream-colored indicator channel stands for Bollinger Bands, while the pale light green and pale pink borders are formed by ATR by deviation from the channel.

    //+———————————————-+
    //| INDICATOR INPUTS                             |
    //+———————————————-+
    input uint ATR_Period=14; //ATR period
    input double ATR_Ratio=2.0; //ATR ratio
    input Smooth_Method XMA_Method=MODE_SMA_; //averaging method
    input uint XLength=100; //depth of averaging
    input int XPhase=15; //first averaging parameter,
    //—- 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 BandsDeviation=2.0; //deviation
    input Applied_price_ IPC=PRICE_CLOSE_;//price constant
    input int Shift=0; // horizontal indicator shift in bars
    input int PriceShift=0; // vertical shift of the indicator in points
    //—- price label colors
    input color Upper_color2=clrLime;
    input color Upper_color1=clrMediumSeaGreen;
    input color Middle_color=clrMediumPurple;
    input color Lower_color1=clrRed;
    input color Lower_color2=clrMagenta;
    //+———————————————-+

    The indicator uses the classes of SmoothAlgorithms.mqh library (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”.

    Fig.1. XMA_BBxATR_Cloud indicator

    Fig.1. XMA_BBxATR_Cloud 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