absolute strength averages
Info
The absolute strength averages is a Indicator for MetaTrader 5 that absolute strength of averages. it is upgraded to use the possible 18 types of averages in calculation.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use absolute strength averages
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
absolute strength of averages.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
absolute strength of averages. it is upgraded to use the possible 18 types of averages in calculation. signal lines are left in it since i think that it is very useful to see bulls and bears trends change. and signal lines do exactly that (an early warning of bulls and bears trend changes).Also recommended: Volume Strength Compass by Bhanu Code Lab - similar indicator with strong performance on MetaTrader 5.
overall trend is still the cross of the main bulls and bears trend. averages used in it are the usual ones:0 = sma
1 = ema
2 = double smoothed ema
3 = double ema (dema)
4 = triple ema (tema)
5 = smoothed ma
6 = linear weighted ma
7 = parabolic weighted ma
8 = alexander ma
9 = volume weighted ma
10 = hull ma
11 = triangular ma
12 = sine weighted ma
13 = linear regression
14 = ie/2
15 = nonlag ma
16 = zero lag ema
17 = leader ema
You may also like: multi-timeframe relative strength index (mtf rsi) indicator for mt4/mt5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_plots 4
#property indicator_label1 "smooth bulls"
#property indicator_type1 draw_line
#property indicator_color1 clrlimegreen
#property indicator_width1 2
#property indicator_label2 "smooth bears".......
⚠ 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.