Blau Ergodic
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 Blau Ergodic
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
Ergodic Oscillator by William Blau is based on indicator (see ).
To indicate the trend reversal, the signal line is used.
Buy signal: upward crossover of the signal line.
Sell signal: downward crossover of the signal line.
The signal line is calculated using the smoothing of a base line (Ergodic, True Strength Index), the averaging period is equal to the last averaging period of a base line.
The trend is upward when base line above the signal line, the trend is downward when base line below the signal line.
WilliamBlau.mqh must be placed in
terminal_data_folder
\MQL5\Include\
Blau_Ergodic.mq5 must be placed in
terminal_data_folder
\MQL5\Indicators\
Calculation:
Ergodic oscillator is calculated by formula:
where:
Ergodic() - base line - True Strength Index TSI(price,q,r,s,u);
SignalLine() - signal line - with period ul, applied to Ergodic;
ul - averaging period of a signal line (according to Willam Blau, it must be equal to last averaging period (>1) of the Ergodic line. For example Ergodic(price,q,r,s,u)=Ergodic(price,2,20,5,1), in this case ul=s=5.
Input parameters:
graphic plot #0 - Ergodic (True Strength Index):
q - Momentum averaging period (by default q=2);
r - period of the 1st EMA, applied to Momentum (by default r=20);
s - period of the 2nd EMA, applied to result of the first smoothing (by default s=5);
u - period of the 3rd EMA, applied to result of the second smoothing (by default u=3);
graphic plot #1 - Signal line:
ul - Smoothing period of the signal line, applied to base line (by default ul=3);
AppliedPrice - (by default AppliedPrice=PRICE_CLOSE).
Note
:
q>0;
r>0, s>0, u>0. If r, s or u =1, smoothing is not used;
ul>0. If ul=1, the signal and base lines are the same;
Min. rates =(q-1+r+s+u+ul-4+1).
