four clicks to draw an arc-shaped channel
Info
The four clicks to draw an arc-shaped channel is a Indicator for MetaTrader 5 that this tool is what the standard metatrader 5 objects miss. to edit a formed line, click on it (at the edges or in the center of the line) until a dotted line appears.
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 four clicks to draw an arc-shaped channel
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
this tool is what the standard metatrader 5 objects miss.
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: institutional dominant cycle extractor: mastering market regimes with fourier analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: fourier extrapolation indicator for price prediction - similar indicator with strong performance on MetaTrader 5.
this tool is what the standard metatrader 5 objects miss. to edit a formed line, click on it (at the edges or in the center of the line) until a dotted line appears. then move the cursor without pressing a button.the indicator has a simple animated button. its size and transparency changes, when the mouse pointer is moved closer to it.
this is a cross-platform code, which can also be used in metatrader 4. i apologize for not adding comments.
the arc is drawn according to the following formula:
price = a+b*n+c*n²
where a, b, c are coefficients, and n is the bar number.
in fact, it is a polynomial of degree 2. three points are enough to calculate the a, b, c coefficients.
You may also like: four ma strength - 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.