mbmcd indicator
Info
The mbmcd indicator is a Indicator for MetaTrader 4 that this indicator demonstrates how to assess speed (linecount=1), acceleration (linecount=2), and other derivatives based on the moving average or price when the parameter ma = 1, inspired by mabyma's idea. visually resembling the macd, the convergence and divergence of ma provide information about the average rate of change in price.
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 mbmcd 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 indicator demonstrates how to assess speed (linecount=1), acceleration (linecount=2), and other derivatives based on the moving average or price when the parameter ma = 1, inspired by mabyma's idea.
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: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
this indicator demonstrates how to assess speed (linecount=1), acceleration (linecount=2), and other derivatives based on the moving average or price when the parameter ma = 1, inspired by mabyma's idea. visually resembling the macd, the convergence and divergence of ma provide information about the average rate of change in price. compared to macd, this indicator offers more extensive capabilities, allowing you to obtain four subsequent derivatives of ma and, with minor code adjustments, even more.Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
the superiority of trend change signals based on the mabyma principle over signal systems using ma crossings is well-illustrated in a publication on mabyma. therefore, it's time to move beyond systems relying on ma convergence and embrace more advanced systems based on mbmcd, replacing macd with mbmcd.
default colors are selected for use on dark backgrounds.
parameters:
- ma: the moving average period used for indicator calculations. when set to 1, it refers to the price.
- mbm: the speed of ma convergence, essentially the averaging of speed.
- linecount: the prediction line, with higher values providing earlier signals. it ranges from 1 to 5. when linecount = 1, it represents speed; linecount = 2 represents acceleration, and so on. this parameter must be greater than 0 and less than or equal to 5.
the illustration clearly shows that increasing the number of iterations (derivatives) results in earlier predictions but also generates more false signals.
You may also like: Fast Stochastic Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 lawngreen
#property indicator_color2 darkviolet
#property indicator_level1 0
extern int ma = 1;
extern int mbm = 13;
extern int filter = 0;.......
⚠ 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.