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XTrendless OS (trendless oscillator)
Info
The XTrendless OS (trendless oscillator) is a Indicator for MetaTrader 5 that lenifchikit is designed to evaluate the actual market overbought/oversold states. The indicator histogram bars change their color when its value exceeds or is equal to 60%, 80% and 100% of an overbought/oversold levels.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 XTrendless OS (trendless oscillator)
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
LenIFCHIKIt is designed to evaluate the actual market overbought/oversold states.
Typical Use Case
This Indicator excels in trend following 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: XTrendless OS HT F - another powerful indicator for MetaTrader 5 traders.
LenIFCHIK
It is designed to evaluate the actual market overbought/oversold states. The indicator histogram bars change their color when its value exceeds or is equal to 60%, 80% and 100% of an overbought/oversold levels. Initially J. DiNapoli described the indicator as a linear chart, but, perhaps, its interpretation as a colored histogram, where crossing of one of the critical levels changes the color of a bar, is more convenient.
Also recommended: Line Break On Chart - similar indicator with strong performance on MetaTrader 5.
- simple moving average;
- exponential moving average;
- smoothed moving average;
- linear weighted moving average;
- JMA adaptive average;
- ultralinear smoothing;
- parabolic smoothing;
- Tillson's multiple exponential smoothing;
- smoothing with the use of Tushar Chande's algorithm;
- smoothing with the use of Perry Kaufman's algorithm.
It should be noted that Phase type parameters for different smoothing algorithms have completely different meaning. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article .
This indicator was first implemented in MQL4 and published in 30.03.2010.
You may also like: Color Schaff JC C X Trend Cycle - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.