SS L
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 SS L
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
A semaphore signal indicator that uses two Moving Averages in the form of NRTR. There is a the channel formed by these Moving Averages. Moving Averages have the same periods of averaging, but one of them is drawn on the basis of high[], the other - on low[] timeseries. The exit beyond the boundaries of this channel gives the signal of change of the trend with the corresponding color. After that, until the opposite signal is appeared, there is the drawing of the NRTR Moving Average corresponding to the trend direction.
This indicator was first implemented in MQL4 and published in on 23.07.2008.
Fig.1 The SSL indicator
