fibo average2
Info
The fibo average2 is a Indicator for MetaTrader 5 that there are four input parameters:ma period- averaging МА calculation periodma method- averaging МА calculation methodsimple - exponential - smoothed - linear-weighted - wilder exponential- sine-weighted- triangular - least square- hull ma by alan hull- zero-lag exponential- instantaneous trendline by j. ehlers- moving median- geometric mean- regularized ema by chris satchwell - integral of linear regression slope- combination of lsma and ilrs- moving average - combination of and methodstriangular ma generalized by j.
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 fibo average2
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
there are four input parameters:ma period- averaging МА calculation periodma method- averaging МА calculation methodsimple - exponential - smoothed - linear-weighted - wilder exponential- sine-weighted- triangular - least square- hull ma by alan hull- zero-lag exponential- instantaneous trendline by j.
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: fibonacci structure engine - another powerful indicator for MetaTrader 5 traders.
there are four input parameters:
ma period
- averaging МА calculation period
Also recommended: Fibonacci Retracement Indicator - similar indicator with strong performance on MetaTrader 5.
ma method
- averaging МА calculation method
simple
-
exponential
-
smoothed
-
linear-weighted
-
wilder exponential
-
sine-weighted
-
triangular
-
least square
-
hull ma by alan hull
-
zero-lag exponential
-
instantaneous trendline by j.ehlers
-
moving median
-
geometric mean
-
regularized ema by chris satchwell
-
integral of linear regression slope
-
combination of lsma and ilrs
- moving average - combination of and methods
triangular ma generalized by j.ehlers
-
volume-weighted
-
fiboma applied price
fibo count
- number of fibo numbers for calculating fiboma
sample calculation:
if the number of fibo numbers (fibocount) = 8, then
fiboma = (price[i] + price[i+1] + price[i+1] + price[i+2] + price[i+3] + price[i+5] + price[i+8] + price[i+13]) / fibocount
ma = ma(fiboma, period, method)
where:
price = fiboma applied price
You may also like: Zig Zag and Fibonacci Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.