Signal MA Above Below 3
Info
The Signal MA Above Below 3 is a Library for MetaTrader 5 that this library is a further development of. What's New in ver.
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 Signal MA Above Below 3
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
This library is a further development of.
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: Channel Proximity Engine: Advanced Signal Generation - another powerful library for MetaTrader 5 traders.
This library is a further development of .
Also recommended: The class of a module of trade signals, on "inner bar breakthrough" in trend direction - similar library with strong performance on MetaTrader 5.
What's New in ver. 3The
CurrentBarSize
parameter allows setting the size of the current bar (which is calculated as Close-Open);
The
PreviousBarSize
is the size of the previous bar (calculated as Close-Open).
If the price at the current bar is ABOVE the indicator, both bars must be bullish. If the price at the current bar is BELOW the indicator, both bars must be bearish. So, these two parameters (
CurrentBarSize
and
PreviousBarSize
) are protective filters when opening a position.
In the module of signals, we need to connect timeseries in the constructor:
After connecting timeseries, we can access the
m_close
and
m_open
objects of the and classes respectively (the objects are declared at a higher level - at the level of parent
ExpertBase.mqh
).
We work with these objects in
CSignalMA::LongCondition
и в
CSignalMA::ShortCondition
Example of opening positions when
Reverse
== false:
Fig. 1. SignalMAAboveBelow 3 - opening a BUY position
Fig. 2. SignalMAAboveBelow 3 - opening a SELL position
Parameters of the signals module
Reverse
- the flag of the reverse of signals;
PeriodMA
- the averaging period of the Moving Average indicator;
Shift
- the horizontal shift of the Moving Average indicator;
Method
- type of smoothing of the Moving Average indicator;
Applied
- the type of the price used for the Moving Average calculation;
TypeOfTrade
- the type of trading signals: 0 → BUY, 1 → SELL, 2 → BUY and SELL;
CurrentBarSize
- the size of the current bar (calculated as Close-Open);
PreviousBarSize
- the size of the previous bar (calculated as Close-Open);
The test Expert Advisor
TestSignalMAAboveBelow3.mq5
has default parameters, no optimization was performed.
If in the Expert Advisor
TestSignalMAAboveBelow3.mq5
generated in the MQL5 Wizard
we enable operation ON EVERY TICK (change the default "false" to "true"), we can obtain more interesting results: the EA will faster process the condition when the current bar (bar with index #0) becomes equal to or slightly greater than the
CurrentBarSize
parameter.
You may also like: Module of Trade Signals, based on Brain Trend1 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.