Total Power Indicator
Info
The Total Power Indicator is a Indicator for MetaTrader 5 that total power indicator is based on two standard indicators. The indicator calculates the number of bullish and bearish trend bars within a certain amount of time and then determines proportional relation of bears, bulls and the total one for the current bar.
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 Total Power 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
Total Power Indicator is based on two standard indicators.
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: rsi divergence and higher timeframe (htf) power of 3 (po3) indicator - another powerful indicator for MetaTrader 5 traders.
Total Power Indicator is based on two standard indicators. The indicator calculates the number of bullish and bearish trend bars within a certain amount of time and then determines proportional relation of bears, bulls and the total one for the current bar. Input parameters: - LookbackPeriod (by default = 45) - basic indicator period. Determines the number of bars for calculation of bullish/bearish prevalence. - PowerPeriod (by default = 10) - original indicators period. There are several different ways to use this indicator: - The most reliable method is to wait while the bullish and total lines indicate 100 and then open a long position. - Bearish and bullish lines crossing can also be used for trading. If the bullish line is located above the bearish one after the crossing, then it is time to buy. - Crossing of bullish and bearish lines with the total one can be used both for market entry and exit. If the bullish line crosses the total one from below, it is time to open a long position. - The alternative way is to use some definite indicator levels instead of the lines crossings. For example, a long position can be opened if the bullish line moves above level 66.Also recommended: true open and power of 3 (po3) lines - similar indicator with strong performance on MetaTrader 5.
You may also like: bulls bears power indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.0"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_plots 3
#property indicator_type1 draw_line.......
⚠ 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.