XRSIDEMARKER Histogram
Info
The XRSIDEMARKER Histogram is a Indicator for MetaTrader 5 that the xrsidemarker histogram is a color histogram that displays a non-trivial linear combination of irsi and idemarker, two popular indicators in the metatrader 4/5 platform. Indicator Calculation Formula:XRSIDEMARKER = MA((IRSI[bar] + 100 * IDEMARKER[bar]) / 2)This formula calculates the average of the IRSI and IDEMARKER indicators, with a weight of 100 given to IDEMARKER.
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 XRSIDEMARKER Histogram
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
The XRSIDEMARKER Histogram is a color histogram that displays a non-trivial linear combination of IRSI and IDEMARKER, two popular indicators in the MetaTrader 4/5 platform.
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 Histogram Indicator for MT5 - another powerful indicator for MetaTrader 5 traders.
The XRSIDEMARKER Histogram is a color histogram that displays a non-trivial linear combination of IRSI and IDEMARKER, two popular indicators in the MetaTrader 4/5 platform.Also recommended: multi-timeframe macd histogram indicator (v03) - similar indicator with strong performance on MetaTrader 5.
Indicator Calculation Formula:
XRSIDEMARKER = MA((IRSI[bar] + 100 * IDEMARKER[bar]) / 2)
This formula calculates the average of the IRSI and IDEMARKER indicators, with a weight of 100 given to IDEMARKER. The result is then smoothed using a moving average (MA).
Interpretation:
The growth of a financial asset is typically accompanied by an increase in the indicator value and a green histogram. Conversely, when the indicator is falling and the histogram is pink, it suggests that the asset is in a downtrend. Traders can use the color change of the histogram bars as a signal for potential trade entry or exit points.
Implementation Details:
The indicator utilizes the SmoothAlgorithms.mqh library, which provides classes for various smoothing algorithms. Ensure that this library is copied to the <terminal_data_folder>\mql5\include directory for proper functionality. For a detailed explanation of the classes used, refer to the 2026 article titled 'SmoothAlgorithms.mqh Library for MetaTrader 4/5'.
Fig 1. XRSIDEMARKER_Histogram Indicator.
This indicator offers a visual representation of the relationship between IRSI and IDEMARKER, providing traders with a unique perspective on market trends and potential trading opportunities.
You may also like: macd histogram indicator (multi-color) - 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.