NEL O D I Trend Painter
Info
The NEL O D I Trend Painter is a Library for MetaTrader 5 that trend indicator based on calculations similar to those found in "ichimoku kinko hyo", with a wide range of drawing styles and parameters to fine-tune the calculation. It can be used on its own, or in combination with the NELODI Trading Terminal.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Trend Painter
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
Trend indicator based on calculations similar to those found in "Ichimoku Kinko Hyo", with a wide range of drawing styles and parameters to fine-tune the calculation.
Typical Use Case
This Library excels in trend following 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: The class of a module of trade signals, on "inner bar breakthrough" in trend direction - another powerful library for MetaTrader 5 traders.
Also recommended: Module of Trade Signals, based on Brain Trend1 indicator - similar library with strong performance on MetaTrader 5.
Trend indicator based on calculations similar to those found in "Ichimoku Kinko Hyo", with a wide range of drawing styles and parameters to fine-tune the calculation. It can be used on its own, or in combination with the NELODI Trading Terminal.When used together with the NELODI Trading Terminal, make sure to add "NLD_TrendPainter" before you add the "NLD_Main" indicator from the NELODI Trading Terminal, because the Trend Painter uses XOR when drawing and would mess up colors of the Main indicator from the Trading Terminal, if it was placed on the top of it.
You may also like: Module of Trade Signals, based on Brain Trend2 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.