Ultra Fatl Indicator
Info
The Ultra Fatl Indicator is a Indicator for MetaTrader 5 that this indicator is derived from the fatl indicator and its signal lines. The signal lines are calculated using an arithmetic progression formula, where the period of each line is determined by the value of the number variable, ranging from 0 to stepstotal.
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 Ultra Fatl 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
This indicator is derived from the Fatl indicator and its signal lines.
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: FATL: Fast Adaptive Trend Line Indicator - another powerful indicator for MetaTrader 5 traders.
This indicator is derived from the Fatl indicator and its signal lines. The signal lines are calculated using an arithmetic progression formula, where the period of each line is determined by the value of the number variable, ranging from 0 to stepstotal.Also recommended: Ultralinear Smoothing Indicator - similar indicator with strong performance on MetaTrader 5.
The indicator utilizes various moving averages, including simple, exponential, smoothed, linear weighted, JMA adaptive, ultralinear, parabolic, Tillson's multiple exponential, and smoothing algorithms by Tushar Chande and Perry Kaufman. The phase1 and phase2 parameters have distinct interpretations for different smoothing algorithms, as explained in the description.
The indicator calculates trend direction based on averaged trend values across all signal lines. Positive and negative trend values are then averaged and displayed as a color histogram, with colors indicating trend direction and width representing trend strength.
The histogram employs four colors for each trend direction, using dark colors for values outside overbought/oversold levels and light colors for values within these levels.
The indicator relies on the smoothalgorithms.mqh library classes, which should be copied to the terminal_data_folder\mql5\include directory, as detailed in the referenced article.
You may also like: Commodity Channel Index with Ultralinear Smoothing - 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 3
#property indicator_plots 1
#define reset 0 // reset
#property indicator_type1 draw_color_histogram2
#property indicator_color1 gray,magenta,hotpink,red,brown,limegreen,teal,lime,palegreen
#property indicator_width1 4.......
⚠ 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.