Sm Price Bend-T01
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Sm Price Bend-T01
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
HomeSoft-Tartan Corp.
The indicator of the first price change derivative or simply trend speed and sign. Color indication has four states. Light colors correspond to strong trends, dark - to weak trends and a flat. For longs correspond blue shades of indication, for short - red shades.
For each timeframe you should empirically define flat corridor value determined using LowLevel and HighLevel input parameters. As you will become a little experienced after a couple of days of the indicator observation, you can easily and with a high probability predict the trend and its approximate strength. No one should ever enter, if the chart is in the specified corridor from the purple Dot Dashes. You should enter when you are outside the corridor. It gives you a guarantee that you won't catch Stop Loss and can get some profit from the deal under a certain experience.
This indicator was first implemented in MQL4 and published in on 16.10.2007.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article .
Fig.1 The SmPriceBend-T01 indicator
