LO C Signal-MACD Double Pike Indicator
Info
The LO C Signal-MACD Double Pike Indicator is a Indicator for MetaTrader 4 that this is a simple signal indicator that detects macd main line extreme value. It filters the first pike and displays all subsequent ones.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use LO C Signal-MACD Double Pike Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This is a simple signal indicator that detects MACD main line extreme value.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: double zig zag trading strategy - another powerful indicator for MetaTrader 4 traders.
This is a simple signal indicator that detects MACD main line extreme value. It filters the first pike and displays all subsequent ones.Also recommended: Double Zig Zag Indicator (No Repaint) - similar indicator with strong performance on MetaTrader 4.
Indicator Description
This is an easy to use signal indicator that displays arrows on the chart. The main idea is to find MACD pikes starting from the 2nd one on one side. Please check the image for more information.
Recommendations
- Use on a 1 hour chart
- It is better to confirm with any other trend indicator.
If you have any questions, please do not hesitate to ask.
You may also like: holt's double exponential smoothing (mt4 version) - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 orangered
#property indicator_width1 1
#property indicator_style1 style_solid
#property indicator_color2 orangered
#property indicator_width2 1
#property indicator_style2 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.