Turn Area
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Turn Area
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.
Description & Settings
The indicator displays the areas of the potential price reversals.
It is based on the moving average and RSI indicators, and shows their difference.
Description of the indicator settings:
EMA_Period — The averaging period for the calculation of the Moving Average indicator.
EMA_Method — Averaging method. Can be any of the enumeration values, SMA — simple averaging, EMA — exponential averaging, SMMA — smoothed averaging, LWMA — linearly weighted averaging.
EMA_Price — applied price. It can be one of the enumeration values. CLOSE — close price. OPEN — open price. HIGH — High price for the period. LOW — Low price for the period. MEDIAN — median price, (high+low)/2. TYPICAL — typical price, (high+low+close)/3. WEIGHTED — weighted close price, (high+low+close+close)/4.
RSI_Period — Averaging period for the RSI calculation.
PSI_Price — applied price. Similar to EMA_Price.
