time averaged price
Info
The time averaged price is a Indicator for MetaTrader 5 that time averaged price draws the line with its values calculated by prices in a specified range. it has two configurable parameters:period - calculation periodapplied pricethe calculation depends on the selected calculation price:close price: tap = close[period-1]open price: tap = open[period-1]high price: tap = maxlow price: tap = minmedian price: tap = (max+min)/2.
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 time averaged price
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
time averaged price draws the line with its values calculated by prices in a specified range.
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: Quantora Market Status Dashboard MT5 - Professional Real-Time Market Analysis Pan - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Trading Clock MT5 - Professional Global Market Time Dashboard - similar indicator with strong performance on MetaTrader 5.
time averaged price draws the line with its values calculated by prices in a specified range.it has two configurable parameters:
period
- calculation period
applied price
the calculation depends on the selected calculation price:
close price: tap = close[period-1]
open price: tap = open[period-1]
high price: tap = max
low price: tap = min
median price: tap = (max+min)/2.0
typical price: tap = (max+min+close)/3.0
weighted price: tap = (max+min+2.0*close)/4.0
where:
min, max - low and high prices in the period range
fig. 1. time averaged price, close
fig. 2. time averaged price, high
fig. 3. time averaged price, low
fig. 4. time averaged price, median
fig. 5. time averaged price, weighted
You may also like: Quantora Candle Countdown MT5: Professional Real-Time Candle Timer - 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.