Snake In Borders
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 Snake In Borders
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
SnakeInBorders calculates the channel of a filtered market, which is limited by two borders BorderTopBuffer[] and BorderBotBuffer[], and it calculates the signal MartBuffer[].
//+--------------------------------------------+//| INDICATOR INPUT PARAMETERS |//+--------------------------------------------+input Smooth_Method XMA_Method=MODE_LWMA_; //Smoothing methodinput uint SnakeRange=2; //Half-period of Snake'а Axis calculation input int XPhase=15; //First averaging parameter,//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;//---- for VIDIA it is a CMO period, for AMA it is a slow average periodinput uint FilterPeriod = 24; // Filtering periodinput double MartFiltr = 2; // Market filtering ratio. The larger the value of MartFiltr, the narrower is the filtered market channel. The ratio should be properly selected. Default is 2;input bool HardCalc = true;input Applied_price_ IPC=PRICE_WEIGHTED_;//A price constantinput int Shift=0; // Horizontal indicator shift in barsinput int PriceShift=0; // Vertical indicator shift in pointsinput color Upper_color=clrMediumSeaGreen;input color Lower_color=clrRed;
The behavior of the signal Mart inside the channel:
When the market moves up, the signal line moves away from the lower border, crosses the channel and merges with the upper border. And vice versa when the market moves down.
When there is a directional market move, the signal line will be held at the appropriate channel border. Expanding channel width means strengthening of the movement. The channel becomes narrower during market fluctuations. During channel narrowing, the signal line moves from one border to the other inside the channel. After reaching the opposite border, the channel begins to expand.
SnakeInBorders can be used independently, comparing the signal line movement on different timeframes, as well as for the construction of other indicators, using Mart instead of the bar price. For the indicators like MA, OA, AC,.. you can set HardCalc = true, for indicators like ZigZag, Channel,.. — HardCalc = false, and MartFiltr value should be chosen in the range 3...5... You can differentiate between true and false peaks: if a peak is intermediate, the Mart signal line does not match the border.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was described in detail in the article .
This indicator was first implemented in MQL4 and was published in on 19.12.2006.
Fig1. The SnakeInBorders indicator
