elder impulse system
Info
The elder impulse system is a Indicator for MetaTrader 5 that elder's impulse systemimpulse system for the price barsbullish price bar: (13-period ema > previous 13-period ema) and (macd-histogram > previous period's macd-histogram)bearish price bar: (13-period ema < previous 13-period ema) and (macd-histogram < previous period's macd-histogram)neutral price bar: when conditions for a bullish price bar or bearish price bar are not met. the elder impulse system indicator identifies transitions where a trend speeds up or slows down.
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 elder impulse system
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
elder's impulse systemimpulse system for the price barsbullish price bar: (13-period ema > previous 13-period ema) and (macd-histogram > previous period's macd-histogram)bearish price bar: (13-period ema < previous 13-period ema) and (macd-histogram < previous period's macd-histogram)neutral price bar: when conditions for a bullish price bar or bearish price bar are not met.
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: impulse system indicator - another powerful indicator for MetaTrader 5 traders.
elder's impulse systemimpulse system for the price bars
bullish price bar: (13-period ema > previous 13-period ema) and (macd-histogram > previous period's macd-histogram)
Also recommended: AFIRMA: Autoregressive Finite Impulse Response Moving Average - similar indicator with strong performance on MetaTrader 5.
bearish price bar: (13-period ema < previous 13-period ema) and (macd-histogram < previous period's macd-histogram)
neutral price bar: when conditions for a bullish price bar or bearish price bar are not met.
the elder impulse system indicator identifies transitions where a trend speeds up or slows down. the impulse system is based on two indicators, a exponential moving average over a number of days and the macd histogram. the moving average identifies the trend, while the macd histogram measures momentum. as a result, the elder impulse system combines trend following and momentum to show tradable impulses.
You may also like: Trinity Impulse Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#include <movingaverages.mqh>
#property indicator_buffers 8
#property indicator_plots 1 //number of graphic plots
#property indicator_type1 draw_color_bars //drawing style - color candles
#property indicator_color1 red,blue,green
input int inpfast=12;
input int inpslow=16;
input int ema=13;
input enum_applied_price inpappliedprice=price_close; // applied price.......
⚠ 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.