Dsl CC I of averages
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 Dsl CC I of averages
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
This is a continuation of a series of indicators that might benefit from discontinued signal line calculating mode
This is the CCI that can (and by default it does) use average of price instead of "raw" price to avoid some false signals. Adding dsl as signal lines might add some more false signals filtering. Usual options :
to chose average that will be used for price filtering :
simple moving average
exponential moving average
smoothed moving average
linear weighted moving average
to set the display type
...
Recommendations:
You can use color changes as indicators of "states" and possible signals
Default period 9 for dsl is taken as a compromise
to use it in a sort of "fixed" levels, use very long dsl period (don't worry, that is a sort of ema, no CPU load fo very long periods) - upper example in the bellow example picture
or use very short period to get something close to slope but with respect to the zero line too (might be interesting to use if somebody uses classical woodies like ccis on lower time frames) - lower example in the bellow example picture
Using dls period <= 1 turns the dsl off (you shall get 2 "levels", but those are the starting values when cci moves from 0 only)
Using averaging period of <= 1 for prices in effect turns of average price filtering off (regardless of what average type is used) and then you get a "raw" CCI
