the "dc signals" signals generator
Info
The the "dc signals" signals generator is a Indicator for MetaTrader 5 that this is one of my first indicators, which is no longer in use. however, i decided to publish it — perhaps, it may be useful for someone.
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 the "dc signals" signals generator
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 one of my first indicators, which is no longer in use.
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: Bands Stoch RSI Extreme Reversal Signals - another powerful indicator for MetaTrader 5 traders.
this is one of my first indicators, which is no longer in use. however, i decided to publish it — perhaps, it may be useful for someone. by the way, this indicator was had been used in my ea during the ats championship in 2008, and showed decent results. for mql4 this code has been published in 2008.
Also recommended: Channel Sun Signals Indicator - similar indicator with strong performance on MetaTrader 5.
when considering the price charts together with the three indicators: dcos (by dc2008), bullspower and bearspower, i have noticed a regularity: price reversal occurs at the same patterns on the indicators. this resulted in a signals indicator (generator), which shows the probable direction of the price movement. signals are formed on the previous bar, and are colored, respectively: yellow — sell, blue — buy. at the same time, the red dots must be enclosed in a square, otherwise the signal is considered to be unconfirmed.fig. 1. the "dc signals" signals generator
tips:
watch the indicator operation, and do not rush to open a position when a signal appears. the fact is that the signal can be canceled.
analyze signals on different timeframes. it is best to use h1, h4 and d1.
it is recommended to use this generator in conjunction with the fractals indicator.
You may also like: geometric signal validation for indicator signals - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.