Bars Max Min System
Info
The Bars Max Min System is a Indicator for MetaTrader 5 that the bars max min system is a trading strategy based on the book "long-term secrets to short-term trading" by larry williams. This system modifies the original concept by introducing a trend-identifying moving average (MA) positioned on the zero line, which helps determine the trade direction.
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 Bars Max Min System
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
The Bars Max Min System is a trading strategy based on the book "Long-Term Secrets to Short-Term Trading" by Larry Williams.
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: Consecutive Bars Indicator for MT5 with History - another powerful indicator for MetaTrader 5 traders.
The Bars Max Min System is a trading strategy based on the book "Long-Term Secrets to Short-Term Trading" by Larry Williams. This system modifies the original concept by introducing a trend-identifying moving average (MA) positioned on the zero line, which helps determine the trade direction.Also recommended: self-aware trend system (sats) for mt5 - similar indicator with strong performance on MetaTrader 5.
The strategy involves calculating and plotting three moving averages:
- MA trend: This MA is calculated on the zero line and indicates the overall trend direction.
- MA high: An MA calculated on the high prices.
- MA low: An MA calculated on the low prices.
Trading rules are as follows:
- Trade only in the direction of the trend MA.
- Buy when the MA low crosses above the MA high, and close the position when the MA high crosses above the MA low.
- Sell when the MA high crosses below the MA low, and close the position when the MA low crosses below the MA high.
Recommendations:
- Buy when the MA low crosses above the MA high, but only if the trend MA is blue, indicating an uptrend.
- Close the buy position when the MA high crosses above the MA low.
- Sell when the MA high crosses below the MA low, but only if the trend MA is orange, indicating a downtrend.
- Close the sell position when the MA low crosses below the MA high.
This strategy aims to identify and follow the trend using moving averages, providing a systematic approach to trading.
You may also like: currency exposure monitor for systemic risk management - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_separate_window
#property indicator_buffers 12
#property indicator_plots 4
#property indicator_label1 "candle open;candle high;candle low;candle close"
#property indicator_type1 draw_color_candles
#property indicator_color1 clrgreen,clrcrimson.......
⚠ 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.