i-Friday Sig
Info
The i-Friday Sig is a Indicator for MetaTrader 5 that entries and exits signals on the system 'friday effect' for trading on fridays. Signals are determined by the daily candlestick of the previous day.
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 i-Friday Sig
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
Entries and exits signals on the system 'Friday Effect' for trading on Fridays.
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: Linear Regression Slope Indicator - another powerful indicator for MetaTrader 5 traders.
Entries and exits signals on the system 'Friday Effect' for trading on Fridays.Also recommended: cc i with on chart sr levels - similar indicator with strong performance on MetaTrader 5.
Signals are determined by the daily candlestick of the previous day. If the candlestick is growing, then in the hour defined by the HourOpenPos indicator input parameter (position opening time), a long position will be opened, which will then be closed at the time defined by the HourClosePos indicator input parameter (position closing time). Analogously, shorts on a falling Thursday day candlestick will be opened.
The arrows of the indicator identify entries, and the rounds indicate exits from positions.
This indicator does not work on timeframes greater than an hour. It was first implemented in MQL4 and published in 2026.
Fig.1 The i-Friday_Sig indicator
You may also like: regression polynomial - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_plots 4
#property indicator_type1 draw_arrow
#property indicator_color1 clrlime
#property indicator_width1 2.......
⚠ 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.