i-Friday Sig
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 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.
Description & Settings
Igor V. Kim aka KimIV
Entries and exits signals on the system "Friday effect" for trading on Friday.
Signals are determined by the daily candlestick of the previous day. If the candlestick is growing, then in hour defined by the HourOpenPos indicator input parameter (position opening time), Long will be opened which in its turn will be closed at the moment of time defined by the HourClosePos indicator input parameter (Position closing time). Analogically shorts on day candlestick falling in Thursday will be opened. The arrows of the indicator identify entries, the rounds - exits from positions.
The indicator does not work on timeframes more than an hour! This indicator was first implemented in MQL4 and published in on 24.09.2007.
Fig.1 The i-Friday_Sig indicator
