am l
Info
The am l is a Indicator for MetaTrader 5 that indicator aml (adaptive market level) displays one of three market states: flat, uptrend, and downtrend. it is based on fractal smoothing and has a discrete filter that removes small price movements: if the price movement amplitude does not exceed the square of the predefined amplitude within the specified range, then this price movement will be ignored and considered a flat one.
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 am l
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
indicator aml (adaptive market level) displays one of three market states: flat, uptrend, and downtrend.
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 Account Health Monitor MT5: Professional Account Health and Risk Monitoring - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Trading Session Monitor MT5: Professional Market Session and Activity Analysis - similar indicator with strong performance on MetaTrader 5.
indicator aml (adaptive market level) displays one of three market states: flat, uptrend, and downtrend.it is based on fractal smoothing and has a discrete filter that removes small price movements: if the price movement amplitude does not exceed the square of the predefined amplitude within the specified range, then this price movement will be ignored and considered a flat one.
it has two parameters:
period
- calculation period;
dimension
- price movement amplitude in points.
calculation:
if abs(fr - fr(dimension)) < lag:
aml = prevaml
otherwise:
aml = fr
where:
alpha = exp(-1.0 * dimension * (dim - 1.0)) in the range from 0.01 to 1.0
if r1+r2 > 0 and r3 > 0:
dim = 1.44269504088896 * (log(r1+r2) - log(r3))
otherwise:
dim = 0
r1 - (maximum price - minimum price within thе period from the current price) / period
r2 - (maximum price - minimum price within the period from i+period) / period
r3 - (maximum price - minimum price within the period * 2) / period * 2
You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.