coral
Info
The coral is a Indicator for MetaTrader 5 that coral indicator is a colored moving average. it has two configurable parameters:coefficient - smoothing ratio (*)applied pricecalculation:coral = (-0.
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 coral
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
coral indicator is a colored moving average.
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: advance decline line - another powerful indicator for MetaTrader 5 traders.
coral indicator is a colored moving average.
it has two configurable parameters:
coefficient
- smoothing ratio (*)
Also recommended: hull trend ht f signal - similar indicator with strong performance on MetaTrader 5.
applied price
calculation:
coral = (-0.064) * b6 + 0.672 * b5 - 2.352 * b4 + 2.744 * b3
where:
b6 = coefficient * b5 + coeff2 * prevb6b5 = coefficient * b4 + coeff2 * prevb5b4 = coefficient * b3 + coeff2 * prevb4b3 = coefficient * b2 + coeff2 * prevb3b2 = coefficient * b1 + coeff2 * prevb2b1 = coefficient * applied price + coeff2 * prevb1
coeff2 = 1.0 - coefficient
* smoothing ratio is, in fact, a calculation period. it cannot be less than 0.0086 and exceed 1.0. the smaller the value, the longer the calculation period. the value of 1 corresponds to the calculation period of 1 of the moving average.
You may also like: trend range - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.