Composite High/Low Momentum Blau HL M
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Composite High/Low Momentum Blau HL M
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
The Composite High-Low Momentum is described by William Blau in the book .
WilliamBlau.mqh must be placed in
terminal_data_folder
\MQL5\Include\
Blau_HLM.mq5 must be placed in
terminal_data_folder
\MQL5\Indicators\
Composite High-Low Momentum Indicator by William Blau
Calculation:
The Composite High/Low Momentum is calculated as follows:
where:
q - number of bars, used in calculation of Up Trend Momentum and Down Trend Momentum;
HMU(q) - Up Trend Momentum (q bars);
LMD(q) - Down Trend Momentum (q bars).
The smoothed Composite High/Low Momentum is calculated as follows:
where:
q - number of bars, used in the calculation of Up Trend Momentum and Down Trend Momentum;
HMU(q) - Up Trend Momentum (q bars);
LMD(q) - Down Trend Momentum (q bars);
HLM(q)=HMU(q)-LMD(q) - Composite High/Low Momentum;
EMA(HLM(q),r) - 1st smoothing - EMA(r), applied to the Composite High/Low Momentum;
EMA(EMA(...,r),s) - 2nd smoothing - EMA(s), applied to result of the 1st smoothing;
EMA(EMA(EMA(...,r),s),u) - 3rd smoothing - EMA(u), applied to result of the 2nd smoothing.
Input parameters:
q - number of bars, used in calculation of HLM (by default q=2);
r - period of the 1st EMA, applied to HLM (by default r=20);
s - period of the 2nd EMA, applied to result of the 1st smoothing (by default s=5);
u - period of the 3rd EMA, applied to result of the 2nd smoothing (by default u=3).
Note:
q>0;
r>0, s>0, u>0. If r, s or u are equal to 1, smoothing is not used;
Min. rates = (q-1+r+s+u-3+1).
