Explore MT5 Indicators

A band a fixed multiple of ATR from each bar’s midpoint that trails one way only and flips sides when price closes through it. MT5 does not ship it, so the implementation is the specification.

Key signal: The trend changing sign — the band jumping to the other side of price.

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The highest high and the lowest low of the last N bars, drawn as two lines. No average and no smoothing, so two correct implementations cannot disagree. MT5 has no Donchian function — the extremes are read straight off the chart.

Key signal: Price clearing the N-bar high, or breaking the N-bar low.

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Candles redrawn: each close is that bar’s four prices averaged, each open the midpoint of the candle before it. The chaining smooths the sequence, so there is no period to set. MT5 ships it as a custom indicator, but MQL5 has no function for it.

Key signal: The Heikin-Ashi close crossing its own Heikin-Ashi open — the candle changing colour.

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Not an indicator but a state machine with a clock: it freezes the high and low of the first bars after a chosen time and reports whether price has left that box, as +1, -1 or 0. MT5 has no function for it and the generated EA creates no handle at all.

Key signal: A bar that opens inside the frozen box and closes outside it — the day’s first break only, which measures at one signal a day.

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A variable-period RSI: the ratio of a short ATR to a long one decides how far to shift the period away from 14, and the node reads whichever of its pre-built RSI handles is nearest. One node creates thirteen handles at the defaults, and the output is +1, -1 or 0 rather than a line.

Key signal: The chosen RSI is below 30 and has fallen more than 10 points in five bars — or the mirror image above 70. A one-bar pulse, read with a comparison against zero.

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The Hull Moving Average — a line built to keep up with price instead of trailing it. MT5 ships no iHMA, so the node creates two LWMA handles, one at half the period and one at the full period, and folds the last smoothing stage inside the EA.

Key signal: Where the HMA crosses the LWMA of the same period. Both lines share the period, so the cross is not fast against slow but the moment the lag correction changes sign — 6.67 bars of lag against 0.33 on a straight trend.

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QQE — a one-way band trailed around a smoothed RSI. MT5 has no iQQE, so the node builds it from a single RSI handle: three EMA stages set the band width, and the side the line breaks is the trend.

Key signal: The trend changing sign. On synthetic series that happens 53 to 60 times per 1000 bars, so the template gates it with the plain RSI’s side of 50 — measured, that removes about a third of the flips.

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VWAP — the volume-weighted average price, accumulated from an anchor rather than over a fixed window. MT5 has no iVWAP, and with no period there is no handle to hand it to, so the node folds the typical price against tick volume itself.

Key signal: The close crossing back up through the lower band while still below VWAP. Measured, the response to a price step decays as 1/n through the session, so crossings cluster in the first half by a factor of 2.0 to 5.2.

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Keltner Channel — a moving average with bands at a multiple of average true range. Bollinger measures the scatter of the closes; this measures the size of the bars. Triple the wick length without moving a single close and Bollinger does not budge while this doubles.

Key signal: The close finishing outside the upper band, with a higher-timeframe centre line giving it a direction. Measured on a trending series, the close sits outside this band 2393 times against Bollinger’s 1358, at widths that differ by only about 11%.

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ROC — the percentage change from N bars ago. The formula is contested: the textbook divides by the old price and is exactly Momentum minus 100, while the ROC that ships with MetaTrader divides by the current price and is not.

Key signal: A crossing of the zero line, which is the one signal that survives the disagreement — both forms share the same sign, so every zero crossing lands on the same bar. Thresholds do not port: on a volatile series the two forms differed by 7.55%.

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Ultimate Oscillator — buying pressure measured over 7, 14 and 28 bars at once and blended 4:2:1, so no single lookback has to be right. The version bundled with MetaTrader matches the textbook exactly, and only because MetaTrader’s ATR is a plain average rather than Wilder’s.

Key signal: A crossing back above the lower band. The catch is the band itself: measured, price sits above 70 only 1.13% of the time here against 4.94% for RSI(14), so the same 70/30 lines are four times rarer — matching RSI’s rate takes 65/35.

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DPO — subtracts a moving average from price so the trend drops out and the cycle is left behind. Two conventions circulate and they are not variants of one indicator: measured, they correlate at −0.44, because the current price enters them with opposite signs.

Key signal: A crossing of the zero line, read on the form MetaTrader ships. The textbook form lags in phase by its full shift — 11 bars against a 20-bar cycle — so it describes a turn that has already happened.

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