differential indicator by sultonov
Info
The differential indicator by sultonov is a Indicator for MetaTrader 5 that indicator lines show the accumulated sums of bulls and bears power for the user-defined period. method of calculation bulls power is calculated by the following formula:bullspower(i) = sum(close(i) - close(i + 1), n) / bun where the following applies:bullspower(i)- the current bulls power.
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 differential indicator by sultonov
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
indicator lines show the accumulated sums of bulls and bears power for the user-defined period.
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: Previous Day High, Low, and Close Indicator - another powerful indicator for MetaTrader 5 traders.
indicator lines show the accumulated sums of bulls and bears power for the user-defined period.
Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
method of calculationbulls power is calculated by the following formula:
bullspower(i) = sum(close(i) - close(i + 1), n) / bun
where the following applies:
bullspower(i)
- the current bulls power.
close(i)
- the close price of the current bar.
close(i + 1)
- the close price of the previous bar.
n
- indicator calculation period.
bun
- the number of positive increments of close prices over n bars. the sum includes only positive increments.
accordingly, the following formula is used for calculating the bears power:
bearspower(i) = sum(close(i + 1) - close(i), n) / ben
where the following applies:
bearspower(i)
- the current bears power.
ben
- the number of negative increments of close prices over n bars. the sum includes only negative increments. parameters
calculate period
- the number of past bars used for the calculation of indicator values (specified as n in the formulas).
the number of bars to display
- the number of past bars, on which the indicator values will be displayed. to display the indicator on the whole available history, enter any unnatural number (0 or less). the parameter does not affect the indicator quality. interpretation
the red indicator line shows the bears power, and the blue line indicates the bulls power. the higher line shows the stronger side. the intersection of lines indicates trend change and is a good moment for opening a deal in the direction of the power that appeared to be above the other one.
fig. 1. change of an uptrend to a downtrend.
update 22.09.2017
the error in recognizing the russian language of the terminal has been fixed.
You may also like: Session High-Low Indicator for MetaTrader - 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.