Dots Indicator
Info
The Dots Indicator is a Indicator for MetaTrader 5 that the dots indicator is a powerful tool for trend analysis, inspired by an indicator developed by trendlaboratory in 2026. This indicator provides a clear visual representation of the current trend direction by displaying colored dots on the main 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 Dots 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
The Dots Indicator is a powerful tool for trend analysis, inspired by an indicator developed by Trendlaboratory in 2026.
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: Trading Session Boxes Indicator for MT4/MT5 - another powerful indicator for MetaTrader 5 traders.
The Dots Indicator is a powerful tool for trend analysis, inspired by an indicator developed by Trendlaboratory in 2026.Also recommended: ICT Kill Zones Indicator: Asian, London, New York in New York Time (2026) - similar indicator with strong performance on MetaTrader 5.
This indicator provides a clear visual representation of the current trend direction by displaying colored dots on the main chart. Blue dots signify an uptrend, while red dots indicate a downtrend.
While the calculation method is not based on standard MetaTrader platform indicators, it utilizes the IMA (moving average) function to retrieve prices of various types, including open, close, maximum, minimum, and typical prices.
The core calculation is based on the cosine of the price change angle, ensuring accurate trend identification.
Input Parameters:
- Length (default = 10) - Adjusts the indicator period. Higher values increase the time lag but reduce false signals.
- Applied Price (default = price_close) - Selects the price type for calculations.
- Filter (default = 0) - Filters out price surges without introducing display lags.
- Deviation (default = 0) - Controls the vertical shift of the indicator.
- Shift (default = 0) - Adjusts the horizontal shift of the indicator.
Tips:
- For optimal results, wait for two identical dots and open positions according to the trend. However, this strategy may not always succeed.
- An alternative approach is to use a single dot as a signal with the filter parameter set as spread x 3.
You may also like: Spread Monitor Indicator for MetaTrader 5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.0"
#property strict
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_color_arrow.......
⚠ 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.