Fractal Weight Oscillator
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Fractal Weight Oscillator
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.
Description & Settings
Oscillator, representing the weighted smoothed sum of four indicators: , , and .
The compilation of the Fractal_WeightOscillator indicator requires the compiled indicator files Fractal_RSI.mq5, Fractal_MFI.mq5, Fractal_WPR.mq5 and Fractal_DeMarker.mq5. Place them in <terminal_data_folder>\MQL5\Indicators.
After compilation, the Fractal_WeightOscillator.ex5 indicator file contains the those indicators as , and therefore, they are not required to be present in the terminal folder for the compiled indicator to work! For this purpose, the corresponding code has been added to the indicator code in order to include the indicators in the executable file.
The indicator executable files have been added as resources at the global scope
//---- Include the indicators in the EA code as resources#resource "\\Indicators\\Fractal_RSI.ex5"#resource "\\Indicators\\Fractal_MFI.ex5"#resource "\\Indicators\\Fractal_WPR.ex5"#resource "\\Indicators\\Fractal_DeMarker.ex5"
Changed the string paths to the indicators used as resources in the block of the OnInit() function
Thus, the compiled executable file of the Fractal_WeightOscillator indicator can be used on other trade terminals on its own without the original indicator.
The indicator uses the classes of SmoothAlgorithms.mqh library (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article .
Compilation order of files:
Fractal_RSI.mq5, Fractal_MFI.mq5, Fractal_WPR.mq5 and Fractal_DeMarker.mq5
Fractal_WeightOscillator.mq5
Fig1. The Fractal_WeightOscillator indicator
