Ergodic CSI Oscillator by Blau
Info
The Ergodic CSI Oscillator by Blau is a Indicator for MetaTrader 5 that the ergodic csi oscillator is described in a book by blau. To use this oscillator, certain files must be placed in specific folders: - williamblau.
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 CSI Oscillator by 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
The Ergodic CSI Oscillator is described in a book by Blau.
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.
The Ergodic CSI Oscillator is described in a book by Blau. To use this oscillator, certain files must be placed in specific folders: - williamblau.mqh must be placed in the terminal_data_folder\mql5\include folder - blau_ergodic_csi.mq5 must be placed in the terminal_data_folder\mql5\indicators folder The Ergodic CSI Oscillator calculation is as follows: - ergodic_csi() - ergodic line - candlestick index csi(price1,price2,q,r,s,u) - signalline() - signal line - ema(ul), applied to ergodic - ul - period of a signal line Input parameters: - q - number of bars, used in calculation of candlestick momentum (by default q=1) - r - period of the 1st ema, applied to candlestick momentum (by default r=20) - s - period of the 2nd ema, applied to result of the 1st smoothing (by default s=5) - u - period of the 3rd ema, applied to result of the 2nd smoothing (by default u=3) - ul - period of a signal line, ema(ul) is applied to ergodic (by default ul=3) - appliedprice1 - (by default appliedprice1=price_close) - appliedprice2 - (by default appliedprice2=price_open) Note: - q>0 - r>0, s>0, u>0. if r, s or u are equal to 1, the smoothing is not used - ul>0. if ul=1, the signal and ergodic lines are the same - min. rates = (q-1+r+s+u+ul-4+1)Also recommended: stochastic oscillator indicator for metatrader 5 - similar indicator with strong performance on MetaTrader 5.
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 14 // 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.