NEL O D I Trading Terminal for MT5
Info
The NEL O D I Trading Terminal for MT5 is a Library for MetaTrader 5 that "nld_main" is a trend indicator, designed to identify the most relevant trends and trend reversals for the currently selected time-frame. "NLD_Chart" is a custom price indicator, which can be used as a replacement for candles or bars, to make price movements easier to visualize, especially when the chart is zoomed out (to see more data).
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 NEL O D I Trading Terminal for MT5
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
"NLD_Main" is a trend indicator, designed to identify the most relevant trends and trend reversals for the currently selected time-frame.
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: ASQ PropFirm Shield: Protect Your Trading Challenge - another powerful library for MetaTrader 5 traders.
"NLD_Main" is a trend indicator, designed to identify the most relevant trends and trend reversals for the currently selected time-frame."NLD_Chart" is a custom price indicator, which can be used as a replacement for candles or bars, to make price movements easier to visualize, especially when the chart is zoomed out (to see more data).
Also recommended: ASQ Risk Analytics Engine: Comprehensive Risk Assessment for Trading Strategies - similar library with strong performance on MetaTrader 5.
"NLD_Volume" is a custom volume indicator, which calculates volumes relative to the time left in the candle (instead of absolute volumes)."NLD_AXD" is a custom Average Directional Movement Index indicator, which uses a yellow line for momentum (up=speeding up, down=slowing down) and filled area for the average movement direction (green=moving up, red=moving down).
You may also like: Trading signals module based on Stalin indicator - 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.