Convenient Use of Indicators
Info
The Convenient Use of Indicators is a Library for MetaTrader 5 that generalthis is a set of classes designed for convenient use of indicators in mql4/mql5. It was originally written to facilitate working with multiple indicators simultaneously.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Convenient Use of Indicators
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
GeneralThis is a set of classes designed for convenient use of indicators in MQL4/MQL5.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Easily Select Fonts for MT5 Indicators - another powerful library for MetaTrader 5 traders.
GeneralThis is a set of classes designed for convenient use of indicators in MQL4/MQL5. It was originally written to facilitate working with multiple indicators simultaneously.
Also recommended: Object Emulator for MetaTrader 4 and 5 - similar library with strong performance on MetaTrader 5.
Each class consists of multiple fields, which can be categorized into two types:
- Fields that are the same for all indicators, such as indicator handle, timeframe, period, and price.
- Fields specific to each indicator, which are required for its unique functionality.
The class also includes functions to set and get these field values.
How to Use
1. Download the provided archive.
2. Place the .mqh files (starting with 'cind') into the folder containing your Expert Advisor.
3. Place the indicator files (*.mq5) into the \mql5\indicators\ folder.
Indicator Parameters
You can set and modify indicator parameters using class functions. For example, with the MACD indicator:
- macd.setfastema(macd_fast_ema_period); // Set the fast EMA period.
- macd.setslowema(macd_slow_ema_period); // Set the slow EMA period.
- macd.setsignalsma(macd_signal_sma_period); // Set the signal SMA period.
Indicator Value
To obtain the indicator value, call the appropriate function. For the 'macd_histogram' indicator:
- double valuehist = macd.outvaluehist(1); // Histogram value of the last bar.
- double valuemacd = macd.outvaluemacd(1); // MACD value of the last bar.
- double valuesignal = macd.outvaluesignal(1); // Signal line value of the last bar.
The argument '1' indicates that the value is for the most recent completed bar.
Conclusion
This tool simplifies the process of working with multiple indicators. If you have any questions or need further assistance, feel free to reach out.
You may also like: mt5 to telegram professional library - excellent alternative for library 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.