Ergodic CM Oscillator by William Blau
Info
The Ergodic CM Oscillator by William Blau is a Indicator for MetaTrader 5 that ergodic cm oscillator by william blau installation: place williamblau. mqh in the terminal_data_folder/mql5/include/ directory.
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 Ergodic CM Oscillator by William Blau
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
Ergodic CM Oscillator by William Blau Installation: Place williamblau.
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: long-term trend trix oscillator for metatrader 5 - another powerful indicator for MetaTrader 5 traders.
Ergodic CM Oscillator by William Blau Installation: Place williamblau.mqh in the terminal_data_folder/mql5/include/ directory.Also recommended: stochastic oscillator indicator for metatrader 5 - similar indicator with strong performance on MetaTrader 5.
Place blau_cmi.mq5 in the terminal_data_folder/mql5/indicators/ directory.Calculation: The Ergodic CM Oscillator is calculated as follows:
Ergodic_CMI() - Ergodic Candlestick Momentum Index CMI(price1, price2, q, r, s, u);
SignalLine() - Signal Line - Exponentially Smoothed Moving Average EMA(ul), applied to Ergodic;
UL - Period of the signal line.
Input Parameters: Graphic Plot #0 - Ergodic (Candlestick Momentum Index): q - Number of bars used in Candlestick Momentum calculation (default q=1).
r - Period of the 1st EMA(r) applied to Candlestick Momentum (default r=20).
s - Period of the 2nd EMA(s) applied to the result of the 1st smoothing (default s=5).
u - Period of the 3rd EMA(u) applied to the result of the 2nd smoothing (default u=3).
Graphic Plot #1 - Signal Line: ul - Period of the signal line - EMA(ul), applied to Ergodic (default ul=3).
AppliedPrice1 - Price close (default appliedprice1=price_close).
AppliedPrice2 - Price open (default appliedprice2=price_open).
Notes: q > 0.
r > 0, s > 0, u > 0. If r, s, or u are equal to 1, smoothing is not used.
ul > 0. If ul = 1, the signal and main lines are the same.
Minimum required bars = (q - 1 + r + s + u + ul - 4 + 1).
You may also like: channel and stochastic oscillator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <williamblau.mqh> // include file (terminal_data_folder\mql5\include)
#property indicator_separate_window // indicator in a separate window
#property indicator_buffers 12 // number of buffers used
#property indicator_plots 2 // number of graphic plots
#property indicator_level1 -25 // level #0
#property indicator_level2 25 // level #1
#property indicator_levelcolor silver // level line color.......
⚠ 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.