Inc Bands On Array
Info
The Inc Bands On Array is a Library for MetaTrader 5 that the cbandsonarray is intended for calculation of (bb) on an indicator buffer. Usage: The Init()method with the following parameters is called in the function of the indicator:int aPeriodis indicator period;ENUM_MA_METHOD aMethodis a method of averaging for calculation of the standard deviation;double aDeviationis a width of bands (the number of standard deviations).
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 Inc Bands On Array
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
The CBandsOnArray is intended for calculation of (BB) on an indicator buffer.
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: Inc MA On Array - another powerful library for MetaTrader 5 traders.
The CBandsOnArray is intended for calculation of (BB) on an indicator buffer.
Usage:
The
Init()
method with the following parameters is called in the function of the indicator:
Also recommended: Inc AT R On Array - similar library with strong performance on MetaTrader 5.
int aPeriod
is indicator period;
ENUM_MA_METHOD aMethod
is a method of averaging for calculation of the standard deviation;
double aDeviation
is a width of bands (the number of standard deviations).
The
Solve()
method with the following parameters is called in the function:
const int aRatesTotal
is the rates_total variable from the OnCalculate() function parameters;
const int aPrevCalc
is the prev_calculated variable from the OnCalculate() function parameters;
double aData[]
is a buffer with data for the indicator calculation;
double & aMA[]
is a buffer with calculated values of the central line;
double & aUpper[]
is a buffer with calculated values of the upper line;
double & aLower[]
is a buffer with calculated values of the lower line.
Additional methods:
int BarsRequired
returns the minimal number of bars required for the indicator calculation;
string Name()
returns a string with the indicator name.
The Test_BandsOnArrayArray.mq5 is an indicator demonstrating how to use the class. The IncBandsOnArray must be located in the MQL5\Include\IncOnArray directory of the terminal data folder (the IncOnArray must be created). The CMAOnArray class for the file is required for this class for work.
Technical Indicator (BB) is similar to . The only difference is that the bands of Envelopes are plotted a fixed distance (%) away from the , while the Bollinger Bands are plotted a certain number of standard deviations away from it. Standard deviation is a measure of volatility, therefore Bollinger Bands adjust themselves to the market conditions. When the markets become more volatile, the bands widen and they contract during less volatile periods.
You may also like: Inc AD X On Array - excellent alternative for library 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.