Symmetrical Normalized Oscillator Indicator
Info
The Symmetrical Normalized Oscillator Indicator is a Indicator for MetaTrader 5 that this is a symmetrical normalized oscillator inspired by ideas from a website. The color of the oscillator depends on the current trend direction.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Symmetrical Normalized Oscillator Indicator
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.
What this tool does
This is a symmetrical normalized oscillator inspired by ideas from a website.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Stochastic Index Indicator (Normalized Smoothed Q-Period Stochastic) - another powerful indicator for MetaTrader 5 traders.
This is a symmetrical normalized oscillator inspired by ideas from a website.Also recommended: Normalized Volume Indicator - similar indicator with strong performance on MetaTrader 5.
The color of the oscillator depends on the current trend direction. To filter the signals, it is recommended to use an additional trend indicator, such as a moving average.The smoothing algorithm used in this indicator can be changed, with options including:
- Simple moving average
- Exponential moving average
- Smoothed moving average
- Linear weighted moving average
- JMA adaptive average
- Ultralinear smoothing
- Parabolic smoothing
- Tillson's multiple exponential smoothing
- Smoothing with the use of Tushar Chande's algorithm
- Smoothing with the use of Perry Kaufman's algorithm.
It is important to note that the phase parameter has a different meaning for each smoothing algorithm.
For JMA, the phase parameter is an external phase variable that ranges from -100 to +100.
For T3, the phase parameter is a smoothing ratio multiplied by 100 for better visualization.
For Vidya, the phase parameter is a CMO period, and for AMA, it is a slow EMA period.
For AMA, the fast EMA period is fixed at 2 by default, and the ratio of raising to the power is also equal to 2.
The indicator uses the SmoothAlgorithms.mqh library classes, which must be copied to the terminal_data_folder\mql5\include folder.
You may also like: Normalized Volume Oscillator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_filling
#property indicator_color1 teal,magenta
#property indicator_style1 style_solid
#property indicator_width1 1.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.