Amplitude (Minimum Maximum) Indicator
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Amplitude (Minimum Maximum) 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.
Description & Settings
This Indicator will show the Amplitude [Minimum; Maximum] of a given period and can act as a substitute of the ATR indicator. The indicator can be used to observe volatility and the force of past swings, useful to determine excesses that will possibly be reversed or repeated, given that the user has knowledge to complement with volume or standard-deviation strategies.
It is suggested a period of 55200 at M1 or 2400 at H1 (meaning 40 sessions of 23hs each), or any period that complements your strategy.
Changelog
v1.05 Also some fixes
v1.04 Some fixes
v1.02 Updated checks, implemented Relative Amplitude (a percentage), updated comments, many more period input settings (D1, W1 and MN are a constant, because W1 is 7 days and MN is something else)
v1.01 Code fixes (removed EventKillTimer() from OnDeinit() and added more comments - nothing that actually matters other than the comments)
v1.00 First release
