Derivative Indicator
Info
The Derivative Indicator is a Indicator for MetaTrader 5 that in mathematics, the derivative value is calculated using the formula:(1)where:x0 is the current value of the argument. x is the value of the argument to the right of the chart.
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 Derivative Indicator
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
In mathematics, the derivative value is calculated using the formula:(1)where:x0 is the current value of the argument.
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: ICT Kill Zones Indicator: Asian, London, New York in New York Time (2026) - another powerful indicator for MetaTrader 5 traders.
In mathematics, the derivative value is calculated using the formula:Also recommended: Spread Monitor Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
(1)
where:
x0 is the current value of the argument.
x is the value of the argument to the right of the chart.
f(x0) is the value of the function at point x0.
f(x) is the value of the function at point x.
In the original definition, the difference between x and x0 is infinitesimal, utilizing the limit of the function. Formula (1) approximates the derivative using function values, eliminating direct differentiation.
In the context of a price chart, x0 represents the current bar, and x represents the upcoming bar, formed after a specified number of chart periods. Consequently, f(x0) denotes the price value on the current bar, while f(x) represents the price value of the upcoming bar.
Equation (1) contains two unknowns, f(x0) and f(x), and solving it requires additional expressions with the same unknowns. To find the derivative f'(x0), known values must be assigned to f(x) and f(x0). This is achieved by taking a point to the left of the current bar as x0 and designating the current bar as x, resulting in definite values for f(x0) and f(x) (prices at points x and x0 visible on the chart).
While the calculated value provides information about a known area on the chart, where price movement can be assessed without the derivative, the valuable insight lies in comparing derivative values at adjacent bars. If the signs of these values differ, it indicates that the price has passed an extremum. The type of extremum can be determined by the combination of signs: a transition from negative to positive indicates a minimum, and positive to negative indicates a maximum.
This derivative calculation principle is implemented in the Derivative indicator, which displays the price difference between the examined bar and a bar spaced by a user-defined 'delay' parameter.
The indicator's simplest application is to buy when the line crosses the zero level from below and sell when it crosses from above.
The indicator was originally written in MQL4 and published in 2022.
You may also like: Market Structure BOS and CHoCH Indicator: Swing Points, No Repaint, Alerts - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.01"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_plots 1
#property indicator_type1 draw_line
#property indicator_color1 clrcoral
#property indicator_style1 style_solid
#property indicator_width1 2.......
⚠ 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.