Keep On Trading (KO T)
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 Keep On Trading (KO T)
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
The KOT (Keep On Trading) indicator shows time for holding a position. For example, if we have an open buy position, the indicator draws a line below the price, which means you can keep the position open. As soon as the line begins to disappear, you can apply your preferable trailing method to move the stop order to the open price of the previous candlestick or to the price of the indicator line. If the indicator line starts to appear above the price and there is an open buy position, you should consider closing the position. The opposite is true for sell signals.
The indicator has four input parameters:
ATR period
- ATR period for the indicator calculation;
MA period
- MA period for the indicator calculation;
MA method
- MA calculation method;
Multiplier
- multiplier. The multiplier sets the distance between the line and the price. The option is useful when trailing the stop order based on the indicator line.
