tail bar
Info
The tail bar is a Indicator for MetaTrader 5 that real inkov evgeni as we know, stars give evidence of the beginning of price reversal. but a candle with asymmetric "tails" can appear instead of a star, which is also an evidence of a fight between "bulls" and "bears".
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 tail bar
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
real inkov evgeni as we know, stars give evidence of the beginning of price reversal.
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: EVT Crash Gauge: Advanced Tail-Risk Measurement - another powerful indicator for MetaTrader 5 traders.
real
inkov evgeni
Also recommended: fantail vma indicator - similar indicator with strong performance on MetaTrader 5.
as we know, stars give evidence of the beginning of price reversal. but a candle with asymmetric "tails" can appear instead of a star, which is also an evidence of a fight between "bulls" and "bears".
this indicator shows this difference. if the low tail is bigger the high one, a bar on the histogram will be above the zero line. if the low tail is longer the bar will be at the bottom. bar amplitude is a difference between tails. the bigger the difference is, the bigger the sign of a reversal and end of a trend. the more vivid sign is appearance of several bars having one direction and large amplitude at a time!
this indicator was first implemented in mql4 and published in
codebase
on march 31, 2014.
fig.1. tail_bar indicator
You may also like: i-any range cld tail - 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_color_histogram
#property indicator_color1 clrteal,clrmagenta
#property indicator_style1 style_solid
#property indicator_width1 3.......
⚠ 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.