Time Based Moving Averages
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Time Based Moving Averages
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
The concept is simple: Plotting Price behavior within several periods of time.
Some Symbols behave very well during the trading day - with this I mean Intraday trading - and this behavior ends up plotting effectively well with the proposed Exponential Moving Averages in this indicator...
Obviously that this behavior could not be seen in all Symbols, but you can give it a try... Just drop this indicator in a chart and you will see for yourself...
This indicator is intended for "Feeling the Trend" purposes. Visual cues are very effective for traders, that's why I created this for our fellow traders in our brotherhood...
For those who love Dynamic Support & Resistances...
OK! You can put 6 MA's manually on your chart, but doing this very often and again and again is pure pain. So this indicator is a kind of a shortcut for it. It has 6 Moving Averages completely customizable in Time Period, Style and Color. The presets are the best I could set for M1, M5 and M15, and, following a visual pattern of Hot-to-Cold color approach - hot colors for faster MA's, colder colors for long MA's - ending up with the last MA with a dashed gray line representing the whole Trading Period (day)...
Many traders would be amazed with the patterns... You can give a try!
For those who use the Triple-Screen approach, on the Settings window you will find tips for configuring the MA's for each timeframe:
Example:
I hope this helps the community!
If you like this indicator, just click on the Like stars... it means a WORLD to me! So I can continue to share more stuff traders want!
Live Long and Prosper!
;)
