AM L
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 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.
Description & Settings
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
