Conqueror
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 Conqueror
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
A signal histogram indicator. Draws a histogram with signal marks in a separate window. The histogram has three colors to determine buying, selling and the neutral state. Signal marks are drawn to indicate the change or completion of the current trend.
The indicator has three input parameters:
Period
- MA calculation period;
First Range period
- the first range (10 days by default);
Second Range period
- the second range (40 days by default).
Calculation of a Buy signal:
Last Close > MAClose10 (10-day moving average of Close prices);
Current MAClose10 > MAClose10 10 days ago;
Last Close > Close 40 days ago.
A buy signal is formed when all the three conditions are met. Opposite conditions apply for selling.
